https://www.taxtmi.com/caselaws?id=774887 ITAT Chandigarh dismissed the assessee's appeal challenging additions under sections 68 and 69C for receiving bogus share capital with premium and commission expenses. The AO conducted detailed analysis and found the share application money and premium to be bogus. The assessee argued that since it was an assessment under section 153A, additions should be based only on seized material. However, the AO had relied on seized documents (Annexures AS-13, A-5, and A-3) to establish the bogus nature of transactions. The tribunal found no merit in the appeal and upheld the Revenue's findings. en-us Tue, 24 Jun 2025 00:00:00 +0530 Wed, 16 Jul 2025 08:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774887 ITAT Chandigarh dismissed the assessee's appeal challenging additions under sections 68 and 69C for receiving bogus share capital with premium and commission expenses. The AO conducted detailed analysis and found the share application money and premium to be bogus. The assessee argued that since it was an assessment under section 153A, additions should be based only on seized material. However, the AO had relied on seized documents (Annexures AS-13, A-5, and A-3) to establish the bogus nature of transactions. The tribunal found no merit in the appeal and upheld the Revenue's findings. Case-Laws Income Tax Tue, 24 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774887