Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]

Charging High Premium - correct Test for making Addition - Test for making Addition - High Premium - Income Tax Act - Delhi High Court - making Addition - correct Test - Tax News - TAXSCAN

The Delhi High Court recently ruled that charging high premium not correct test for making addition under Section 68 of the Income Tax Act, 1961. By this appeal, the appellant/revenue sought to assail the order dated 14.01.2019, passed by the Income Tax Appellate Tribunal [ITAT].  The counsel for the petitioner highlighted the fact that although…

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