ITAT Deletes Addition Made Towards Share Application Money Recorded in Books of Account on Unabated Assessment Year [Read Order]

ITAT - deletes - addition - Share Application Money - Books of Account - taxscan

The Income Tax Appellate Tribunal (ITAT) of Mumbai Bench deleted the addition made towards share application money recorded in books of account on unabated assessment year. The assessee Morpan Merchant Private Limited belongs to Gauti Group. A search action conducted related to assessee  along with other group concerns/family members.  Consequently assessments were completed under section…

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