Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]

By Shabna Rahim - On July 3, 2023 3:10 pm - 2 mins read

ITAT Upholds Rejection of Claim of Exemption - of Income Tax Act due to Utilisation of Income for Religious Expenses More than Prescribed Limit - TAXSCAN

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the assessing officer in respect of share capital without considering the relevant documents and evidence by the assessee. Gulmohar Distributors Pvt. Ltd, the appellant assessee filed its return of income reporting a total income at nil which was processed under…

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Topics

Commissioner of Income Tax (Appeals)documents ITAT ITAT Kolkata Judicial Member Sanjay Garg section 143(1) of the Income Tax Act Share Capital