Court Upholds Addition u/s 68 for Unexplained Creditworthiness and Fabricated Documents in Share Capital Case.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 68 - creditworthiness of investor unexplained - the documents submitted to prove the genuineness of transaction are itself from to be malaises created with the intention to cover up the true nature of transaction and thus the CIT(A) rightly held that the amount received by the appellant company as share capital and premium are nothing but arranged transactions to introduce its unaccounted income/money as share capital - Additions confirmed - AT....