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Top News In S 68 Of The Income Tax Act Today - Breaking & Trending Today

Taxpayer Has Duly Established Existence Of Subscriber Companies: Kolkata ITAT Deletes Addition Made Towards Share Premium U/s 68

Referring to the decision of Bombay High court in the case of PCIT v. Paradise Inland Shipping Pvt Ltd. [2017] 84 taxmann.com 58 (Pan), the Kolkata ITAT deleted the addition made towards share. ....

Sunil Surana , Sonjoy Sarma , Judicial Member , Girish Agrawal , Accountant Member , Kolkata Itat , Eleted The Addition , Share Capital , Share Premium , S 68 Of The Income Tax Act , Nature And Source , Undisclosed Income , Ubscriber Companies ,

Addition U/s 68 Should Be Restricted To Extent Of Gross Profit At Same Rate Of Genuine Purchases If Sales Are Not Disputed: Mumbai ITAT

While deleting the addition made u/s 68 of the Income Tax Act, the Mumbai ITAT held that in the absence of any dispute and discrepancy in the sales, the addition should be restricted to the extent. ....

Vimal Punmiya , Bombay High Court , Rahul Chaudhary , Judicial Member , Prashant Maharishi , Accountant Member , Haji Adam , Mumbai Itat , Eleting The Addition , S 68 Of The Income Tax Act , Gross Profit ,

Assessee Has Not Benefited From Round-Tripping Of Share Transactions; Mumbai ITAT Deletes Addition U/s 68

On finding that the assessee has issued share application money and subsequently allotted shares which shows that the transactions are genuine and there is no material brought on record by tax. ....

S Rifaur Rahman , Narendra Kumar Choudhry , Judicial Member , Accountant Member , Balance Sheet , Mumbai Itat , Hare Application Money , Eleted The Addition , S 68 Of The Income Tax Act ,