https://www.taxtmi.com/caselaws?id=420353 Share application money and premium received from a foreign investor, when routed through banking channels and supported by valuation in line with RBI pricing norms, DCF methodology, and confirmation from the foreign competent authority, are not liable to addition under section 68. Business travelling expenses, where supported by documentary evidence and shown to relate to the hotel project, cannot be disallowed as personal use by directors in the absence of contrary material. The note states that the Revenue's appeal failed and the appellate relief was maintained. en-us Wed, 23 Feb 2022 00:00:00 +0530 Wed, 19 Apr 2023 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420353 Share application money and premium received from a foreign investor, when routed through banking channels and supported by valuation in line with RBI pricing norms, DCF methodology, and confirmation from the foreign competent authority, are not liable to addition under section 68. Business travelling expenses, where supported by documentary evidence and shown to relate to the hotel project, cannot be disallowed as personal use by directors in the absence of contrary material. The note states that the Revenue's appeal failed and the appellate relief was maintained. Case-Laws Income Tax Wed, 23 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420353