Assessee Proves Share Applicants' Identity and Creditworthiness; No Income Additions u/s 68 Made by Assessing Officer.

Assessee Proves Share Applicants' Identity and Creditworthiness; No Income Additions u/s 68 Made by Assessing Officer. https://www.taxtmi.com/highlights?id=58280 Unexplained share application and Share Premium - Addition u/s 68 - The assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants. The PAN details, bank account statements, audited financial statements and Income Tax acknowledgments were placed on AO's record. - No additions - AT en-us Mon, 07 Jun 2021 13:16:14 +0530 Mon, 07 Jun 2021 13:16:14 +0530 TaxTMI RSS Generator Assessee Proves Share Applicants' Identity and Creditworthiness; No Income Additions u/s 68 Made by Assessing Officer. https://www.taxtmi.com/highlights?id=58280 Unexplained share application and Share Premium - Addition u/s 68 - The assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants. The PAN details, bank account statements, audited financial statements and Income Tax acknowledgments were placed on AO's record. - No additions - AT Highlights Income Tax Mon, 07 Jun 2021 13:16:14 +0530 https://www.taxtmi.com/highlights?id=58280