Bini Builders Pvt. Ltd. vs Deputy Commissioner Of Income Tax

Authority: ITAT Tribunal/Court: Bombay Date: 2020-03-12 AY: 2011-12, 2012-13 Section: 68 Acts: Income Tax Act 1961 Result: Assessee Citation: (2020) 58 CCH 0372 MumTrib (2020) 185 ITD 0236 (Mumbai-Trib) Justices: MAHAVIR SINGH, VP & MANOJ KUMAR AGGARWAL, AM. Appeal No: ITA No. 631/Mum/2019, 632/Mum/2019
Whether addition u/s 68 for share capital/share premium can be sustained when assessee proves identity, creditworthiness, and genuineness of transactions --- Held No. Whether assessee is required to prove source of source under Section 68 --- Held No.

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