https://www.taxtmi.com/caselaws?id=356109 The High Court upheld the decision of the Appellate Authorities to delete the sum brought to tax by the Assessing Officer based on share premium and call in arrears. The court considered the genuine difficulties faced by the assessee, a public limited company with a large number of shareholders, in explaining the transactions. It was concluded that the company could not be expected to track individual shareholders' details in a public issue scenario. Therefore, the appeal seeking deletion of the sum brought to tax was dismissed. en-us Fri, 09 Feb 2018 00:00:00 +0530 Sat, 24 Feb 2018 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356109 The High Court upheld the decision of the Appellate Authorities to delete the sum brought to tax by the Assessing Officer based on share premium and call in arrears. The court considered the genuine difficulties faced by the assessee, a public limited company with a large number of shareholders, in explaining the transactions. It was concluded that the company could not be expected to track individual shareholders' details in a public issue scenario. Therefore, the appeal seeking deletion of the sum brought to tax was dismissed. Case-Laws Income Tax Fri, 09 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356109