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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - Bogus share capital including share premium - ...


Commissioner of Income Tax's Order on Bogus Share Capital Criticized for Lack of Detailed Reasoning u/s 68.

October 15, 2022

Case Laws     Income Tax     AT

Addition u/s 68 - Bogus share capital including share premium - The order of the CIT(A) is a non-speaking order. By simply reproducing the contents of the case laws without discussing about their application on the facts of the case, in our view, would not make the order of the ld. CIT(A) justifiable speaking order and hence, the same is not sustainable as per law.- AT

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