Tuesday, May 20, 2014

[aaykarbhavan] No sec. 68 additions if all transactions were made through banks and share applicants were assessed to tax



No sec. 68 additions if all transactions were made through banks and share applicants were assessed to tax

May 20, 2014[2014] 44 taxmann.com 460 (Rajasthan)
IT : Where investing companies were genuinely existing and identity of individual investors were also established, no addition could be made under section 68 on account of share application money, only on basis of any third party statement
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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