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Section 68: No Additions Made Due to Lack of Evidence on Unaccounted Funds in Share Capital Transactions.
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....Addition u/s 68 - genuineness of the transaction - share capital and share premium - identity and creditworthiness of the investors - the genuineness of the transaction - several other Companies having their Registered Offices at the same address - revenue failed to prove introduction of unaccounted cash/funds in the form of share capital in these companies - no addition - AT....
TaxTMI
TaxTMI