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Income Tax - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Addition u/s 68 - Assessee received premium of Rs.499/- against ...

Income Tax

February 16, 2023

Addition u/s 68 - Assessee received premium of Rs.499/- against the value of share at Rs.1/- They have not given any explanation of the source of money in their hands for making payments to the assessee as share application money in cash. Therefore, revenue authorities have rightly treated it as bogus and sham transactions. AO has rightly made the addition - AT

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