Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]

Share Subscription - Unexplained Cash Credit - Unexplained Cash - Cash Credit - ITAT - Taxscan

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench consisting of Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member deleted addition as there was treating share subscription by one party as unexplained cash credit. The Assessing Officer during the assessment proceedings called for the various details of the assessee, A.G. Ferro Cast…

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