CIT-A Deletes Additions u/s 68; AO Ordered to Verify 25%-50% of Investments for Genuineness.

CIT-A Deletes Additions u/s 68; AO Ordered to Verify 25%-50% of Investments for Genuineness. https://www.taxtmi.com/highlights?id=41423 Addition u/s 68 - CIT-A deleted the entire additions on the basis of few sample shareholders - AO has also not given the breakup of the investment made by the 10 persons or the percentage of investment which has been proved by the assessee to accept the entire investment as genuine. - AO directed to verify the investments atleast to the tune of 25% to 50%. en-us Fri, 14 Sep 2018 07:48:34 +0530 Fri, 14 Sep 2018 07:48:34 +0530 TaxTMI RSS Generator CIT-A Deletes Additions u/s 68; AO Ordered to Verify 25%-50% of Investments for Genuineness. https://www.taxtmi.com/highlights?id=41423 Addition u/s 68 - CIT-A deleted the entire additions on the basis of few sample shareholders - AO has also not given the breakup of the investment made by the 10 persons or the percentage of investment which has been proved by the assessee to accept the entire investment as genuine. - AO directed to verify the investments atleast to the tune of 25% to 50%. Highlights Income Tax Fri, 14 Sep 2018 07:48:34 +0530 https://www.taxtmi.com/highlights?id=41423