https://www.taxtmi.com/caselaws?id=460591 ITAT Kolkata held that section 68 addition was not applicable where shares were issued through barter system in exchange for existing shares without cash involvement. Following precedent in Anand Enterprises Ltd., the tribunal ruled that since transactions involved share-for-share exchange rather than cash consideration, provisions of section 68 regarding unexplained cash credits did not attract. The appeal was decided in favor of the assessee, confirming that barter transactions for share capital and premium fall outside section 68 scope. en-us Wed, 05 Feb 2020 00:00:00 +0530 Tue, 04 Feb 2025 13:30:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460591 ITAT Kolkata held that section 68 addition was not applicable where shares were issued through barter system in exchange for existing shares without cash involvement. Following precedent in Anand Enterprises Ltd., the tribunal ruled that since transactions involved share-for-share exchange rather than cash consideration, provisions of section 68 regarding unexplained cash credits did not attract. The appeal was decided in favor of the assessee, confirming that barter transactions for share capital and premium fall outside section 68 scope. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460591