Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]

By Aparna. M - On March 5, 2024 5:01 pm - 2 mins read
Share Capital - Directors - Shareholders - Directors and Shareholders of Company - ITAT - taxscan

The Delhi bench  of  Income Tax Appellate Tribunal (ITAT) ruled that share capital received from directors and shareholders of the company was duly discharged with evidence . Therefore the bench  deleted the addition made under Section 68 of the Income Tax Act 1961. The assessee Nishit Capinvest Pvt. Ltd. engaged in the business of making…

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