Wednesday, August 1, 2018

No sec. 68 additions merely because assessee failed to produce directors of investing co. for confirmation

IT: Where in respect of share capital and share premium received from investing companies, assessee brought on record all necessary evidence such as their address, PAN, confirmation letters etc., merely because it failed to produce directors of investing companies personally for confirmation, amount in question could not be added to assessee's income under section 68

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