Addition of Share Premium and Share Capital u/s 68 of Income Tax Act can’t be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]

By Sunayana Dhal - On September 25, 2023 1:30 pm - 2 mins read
Addition - Share Premium - Share Capital - Income Tax Act - imposed - ignoring Evidences - produced - Assessee - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of share premium and share capital cannot be imposed by ignoring the evidence produced by the assessee. The assessee company is engaged in the business of investments and trading. The assessee has filed the return of income disclosing a total income…

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