Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]

The assessee on the extent of the complete documentary evidence has successfully proved the identity, creditworthiness of the share subscribers and genuineness of the transaction coupled with the supported documents
ITAT kolkata - Income Tax Addition - ITAT deletes - Income Tax Appellate Trribunal - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68, of Income Tax Act, 1961 as the identity and creditworthiness of the share subscribers, along with the genuineness of the transactions, were proved by the supported documents The assessee Wellman Logistics Pvt. Ltd filed its return of…

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