[aaykarbhavan] Share application money can’t be deemed as unexplained if identity and creditworthiness of applicants are proved

Share application money can't be deemed as unexplained if identity and creditworthiness of applicants are proved

June 7, 2014[2014] 45 taxmann.com 204 (Allahabad)

IT: No addition could be made under section 68 on account of share application money received, where assessee had established identity and creditworthiness of applicant companies and genuineness of transaction

 

Regards

Prarthana Jalan

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

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