https://www.taxtmi.com/caselaws?id=121215 The Tribunal upheld the addition of Rs. 22,50,000 on account of share capital contributed by alleged shareholders, as the assessee failed to prove the identity of the shareholders and the money did not come from their accounts. The disallowance of expenses under Section 14A of the Income-tax Act was partially allowed, with the Tribunal directing the AO to recompute the disallowance as per Rule 8D. The disallowance of Rs. 17,308 relating to preliminary expenses written off under Section 35D of the Income-tax Act was upheld, as the expenses were deemed capital in nature and not allowable under Section 35D. en-us Fri, 25 Sep 2009 00:00:00 +0530 Fri, 27 Jul 2012 15:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121215 The Tribunal upheld the addition of Rs. 22,50,000 on account of share capital contributed by alleged shareholders, as the assessee failed to prove the identity of the shareholders and the money did not come from their accounts. The disallowance of expenses under Section 14A of the Income-tax Act was partially allowed, with the Tribunal directing the AO to recompute the disallowance as per Rule 8D. The disallowance of Rs. 17,308 relating to preliminary expenses written off under Section 35D of the Income-tax Act was upheld, as the expenses were deemed capital in nature and not allowable under Section 35D. Case-Laws Income Tax Fri, 25 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121215