Income Tax Officer vs Synergy Finlease Pvt. Ltd.

Authority: ITAT Tribunal/Court: Delhi Date: 2019-03-08 AY: 2006-07 Section: 68 Acts: Income Tax Act 1961, Income Tax Rules 1962 Result: Revenue Citation: (2019) 55 CCH 0267 DelTrib2019) 199 TTJ 0793Del) :2019) 178 DTR 0145Del)(Trib) :2019) 177 Justices: BHAVNESH SAINI, JM & O. P. KANT, AM. Appeal No: ITA No. 4778/Del/2013
Whether the assessee discharged its onus under section 68 of the Income Tax Act regarding share capital and share premium received from 10 companies --- Held No. Whether the addition of Rs. 4,85,58,000/- under section 68 was justified --- Held Yes.

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