Bini Bui lders Pvt. Ltd. vs DCIT

Authority: ITAT Tribunal/Court: Mumbai Date: 2020-03-12 AY: 2012-13 Section: 68, 234A, 148, 274, 147 Acts: Income Tax Act 1961 Result: Partly Citation: 320Taxpundit541 Justices: MAHAVIR SINGH, VP & MANOJ KUMAR AGGARWAL, AM Appeal No: I .T.A. No.632/Mum/2019
Whether addition under Section 68 for share capital/share premium is justified when assessee proves identity, creditworthiness, and genuineness of transactions --- Held No. Whether reassessment proceedings under Section 148 are valid based on search/survey findings --- Held Yes.

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