Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is already some liability/asset/entry in books of account's which is to be adjusted. However, in the instant case that was not the case. There was no entry subsisting in the books of account's which was adjusted.This was a fresh issue of equity shares for consideration other than cash, and was not issued against any of liability in the books of accounts. - additions confirmed - AT
Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is already some liability/asset/entry in books of account's which is to be adjusted. However, in the instant case that was not the case. There was no entry subsisting in the books of account's which was adjusted.This was a fresh issue of equity shares for consideration other than cash, and was not issued against any of liability in the books of accounts. - additions confirmed - AT
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