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Income Tax - Highlights / Catch Notes

Home Highlights November 2022 Year 2022 This

Unexplained share capital and share premium - Not only the ...

Income Tax

November 12, 2022

Unexplained share capital and share premium - Not only the assessee has proved the identity and creditworthiness of the investors and genuineness of the transactions by furnishing all the evidences which unequivocally proved all these three ingredients of Section 68 of the Act. Besides the issue of shares at a high premium is a management decision taken by the Board and there is no bar in the instant assessment year to issue shares at a high premium. - AT

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