https://www.taxtmi.com/caselaws?id=429822 The ITAT Kolkata allowed the appeal of the assessee on all three issues. It directed the AO to delete the addition of Rs. 72,96,000 under Section 68 of the Act related to share capital, the addition of Rs. 50 Lakh for excess stocks, and the disallowance of Rs. 6,24,709 under Section 40a(ia) for non-deduction of tax at source on documentation charges. The ITAT found insufficient basis for the additions and disallowance, emphasizing the cooperation of investors and proper disclosure of stocks in the books of accounts. en-us Thu, 03 Nov 2022 00:00:00 +0530 Mon, 23 Jan 2023 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429822 The ITAT Kolkata allowed the appeal of the assessee on all three issues. It directed the AO to delete the addition of Rs. 72,96,000 under Section 68 of the Act related to share capital, the addition of Rs. 50 Lakh for excess stocks, and the disallowance of Rs. 6,24,709 under Section 40a(ia) for non-deduction of tax at source on documentation charges. The ITAT found insufficient basis for the additions and disallowance, emphasizing the cooperation of investors and proper disclosure of stocks in the books of accounts. Case-Laws Income Tax Thu, 03 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429822