Addition u/s. 68 - unexplained share capital and premium - the ...

Court Finds Company Concealed Identity to Evade Taxes; Accused of Misusing Legal Processes u/s 68.

November 11, 2022

Case Laws Income Tax AT

Addition u/s. 68 - unexplained share capital and premium - the assessee company concealed its own identity, address as well as the identity and address of its directors. The motive being that in case the assessee company is burdened with the additions/taxes, it may avoid the payment of the same by concealing its identity and identity of its directors. The assessee/appellant has not come to the court with clean hands. The appellant in this case wants to abuse the process of law.- AT

View Source

← Previous Next →

Addition u/s. 68 - unexplained share capital and premium - the ...

Court Finds Company Concealed Identity to Evade Taxes; Accused of Misusing Legal Processes u/s 68.

November 11, 2022

Case Laws Income Tax AT

You may also like:

The case before the Calcutta High Court involved the classification of a company for taxation purposes. The court determined that the appellant company did not qualify...

The Delhi High Court considered a bail application in a money laundering case involving a predicate offence. The delay in trial was a key issue. The court emphasized...

Dishonor of cheque - maintainability of appeal - correctness of acquittal of accused - Allegation is that the complainant has misused the signed cheque which was kept in...

The High Court addressed the issue of invoking the extended period of limitation for non-payment of service tax. The Court held that the Tribunal's finding of no...

The case involves a petition to quash proceedings u/s 138 of the Negotiable Instruments Act due to failure to implead the company as an accused. The petitioner, a...

Dishonour of Cheque - acquittal of accused - rebuttal of presumption - The High court found that the evidence presented by the complainant was sufficient to establish...

HC dismissed bail petition of accused charged with serious economic offenses involving bank fraud and misappropriation under Section 447 of Companies Act. Accused...

Addition u/s 68 - The Tribunal not only took note of the legal position but also the factual position. The Tribunal held that the legal effect after amalgamation of the...

Dishonour of Cheque - conviction of accused - The High Court upheld the conviction under Section 138 of the Negotiable Instruments Act based on the evidence presented,...

This is a summary of a legal case related to the dishonor of a cheque. The court held that the accused failed to rebut the presumption of consideration for the cheque by...

Service of the notice / summons to the company - High Court held that, Company as a juridical person cannot be physical apprehended. - The natural consequence would be...

Companies (Incorporation) Amendment Rules, 2019 - Active Company Tagging Identities and Verification (ACTIVE)

Dishonour of Cheque - vicarious liability of Director of the Company - The petitioner, a former non-executive additional director of the accused company, contended that...

Dishonor of cheque - presumption that cheque was issued in discharge of legal liability, burden on accused to prove contrary. Supreme Court observations: While deciding...

The High Court denied bail to the accused, a public servant, in a money laundering case involving bribery for tender allotments. The accused's family members were also...

Quick Updates: