Share Capital Credited through Journal Entries are  not Unexplained Share Capital : ITAT upholds deletion of addition u/s 68 of Income Tax Act [Read Order]

Share Capital Credited through Journal Entries are not Unexplained Share Capital - ITAT upholds deletion of addition - Income Tax Act - TAXSCAN

The Pune bench of Income Tax Appellate Tribunal (ITAT) has held that share capital credited through the journal entries are not unexplained share capital. The bench upheld the deletion of addition made under Section 68 of Income Tax Act, 1961. The assessee Hindustan Breweries and Bottling Limited filed its return declaring Nil income after set…

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