https://www.taxtmi.com/caselaws?id=460586 The ITAT Kolkata held that Section 68 provisions do not apply to share allotment transactions structured as barter arrangements. The assessee company allotted 25,800 equity shares worth Rs. 1,29,00,000 to three applicant companies in exchange for equity shares held by those companies. The tribunal determined this constituted a barter transaction rather than a cash credit requiring scrutiny under Section 68. The Revenue's appeal challenging this treatment was dismissed, establishing that barter-based share exchanges fall outside the purview of unexplained cash credit provisions. en-us Wed, 28 Aug 2019 00:00:00 +0530 Mon, 03 Feb 2025 18:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460586 The ITAT Kolkata held that Section 68 provisions do not apply to share allotment transactions structured as barter arrangements. The assessee company allotted 25,800 equity shares worth Rs. 1,29,00,000 to three applicant companies in exchange for equity shares held by those companies. The tribunal determined this constituted a barter transaction rather than a cash credit requiring scrutiny under Section 68. The Revenue's appeal challenging this treatment was dismissed, establishing that barter-based share exchanges fall outside the purview of unexplained cash credit provisions. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460586