Income—Unexplained cash credits— Assessee raised share capital and share premium during year under consideration- There cannot be any addition u/s 68 merely because assessee could not produce directors of share subscribing companies -If all necessary ingredients of s. 68 had been duly complied with by assessee and notices issued u/s 133(6) have been duly complied with. Revenue’s appeal dismissed
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56 total views Friends KOLKATA TRIBUNAL on dated Oct 26, 2018 held that Income—Unexplained cash credits— Assessee raised share capital and share premium during year under consideration- There cannot be any addition u/s 68 merely because assessee could not produce directors…
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