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

Assessee's Unexplained Share Premium Deemed Bogus by Authorities, Addition Made u/s 68 for Taxable Income.

February 16, 2023

Case Laws Income Tax AT

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

Assessee's Unexplained Share Premium Deemed Bogus by Authorities, Addition Made u/s 68 for Taxable Income.

February 16, 2023

Case Laws Income Tax AT

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