https://www.taxtmi.com/caselaws?id=378112 The ITAT upheld the CIT(A)'s decision, ruling that the share capital and premium were received in the preceding year and could not be added in AY 2009-10. The ITAT directed the AO to re-examine the issue based on audited balance sheets for the relevant years. If the AO confirms that the amounts were credited in the preceding year, no addition should be made for AY 2009-10. The appeal was allowed for statistical purposes with directions for the AO to decide the issue afresh. en-us Mon, 01 Apr 2019 00:00:00 +0530 Tue, 09 Apr 2019 06:43:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378112 The ITAT upheld the CIT(A)'s decision, ruling that the share capital and premium were received in the preceding year and could not be added in AY 2009-10. The ITAT directed the AO to re-examine the issue based on audited balance sheets for the relevant years. If the AO confirms that the amounts were credited in the preceding year, no addition should be made for AY 2009-10. The appeal was allowed for statistical purposes with directions for the AO to decide the issue afresh. Case-Laws Income Tax Mon, 01 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378112