DCIT vs Zimkele Commodeal Pvt. Ltd.

Authority: ITAT Tribunal/Court: Kolkata Date: 2016-08-24 AY: 2006-07 Section: 68, 250 Acts: Income Tax Act 1961 Result: Assessee Citation: 816Taxpundit135 Justices: M. Balaganesh, AM & K. Narasimha Chary, JM Appeal No: ITA No. 959/Kol/2011
Whether the addition of Rs. 1,23,75,000/- as unexplained cash credit under section 68 of the Income Tax Act, 1961, towards share application money was justified --- Held No.

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