No addition shall be made u/s 68 of Income Tax Act, when Authenticity/Genuineness of Share Application Money received from various investors are fully explained: ITAT [Read Order]

ITAT - ITAT Delhi - Income Tax - Addition - TAXSCAN

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) ruled that addition under Section 68 of the Income Tax Act, 1961 should not be made, when authenticity/genuineness of share application money received from various investors are fully explained. The Assessee, Trinity Global Enterprises Ltd.issued 1500000 shares o f Rs.10 each on a premium of…

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