ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]

By Kalyani B. Nair - On April 27, 2023 3:30 pm - 2 mins read
ITAT Upholds Deletion of Additions - ITAT -Share Application - Capital - Share Capital - Unexplained Cash Credits - Income Tax Act - ITAT Upholds Deletion - Additions Made on Account of Share Application - Taxscan

The Income Tax Appellate Tribunal (ITAT), upheld the deletion of additions made on account of share application or capital received as unexplained cash credits under Section 68 of the Income Tax Act 1961. During the course of the assessment proceedings, it was observed by the Assessing Officer that the assessee company, M/s. Devi Iron &…

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