Thursday, August 30, 2018

No additions if creditworthiness of investors to whom shares were allotted were established; SLP dismissed

IT : Section 68 addition deleted where assessee company had discharged its onus of establishing identity, genuineness and creditworthiness of both investors as well as lenders ; SLP dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2C8N2MW

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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