No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]

By Shabna Rahim - On June 26, 2023 7:00 am - 2 mins read
No Addition - Unaccounted Share Capital - Source of Income - Income Tax - ITAT - taxscan

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no addition can be made on any unaccounted share capital when it was already taxed under the category of ‘source of income’.  Subhshree Investment Management Pvt. Ltd, the respondent-assessee was a private company and Surya processed food Pvt. Ltd. was the ultimate…

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