Tag: Book entry transfer

Credit in assessee’s capital account consequent to book entry adjustments in the books of the partnership firm can not be added u/s 68 – ITAT In a recent judgment, ITAT Mumbai has deleted addition under section 68 of the Income Tax Act holding that credit in the assessee’s …

Book entry transfer of share application money to capital reserve account could not be regarded as benefit or perquisite arising in course of business u/s.28(iv) – ITAT   Book entry transfer of share application money to capital reserve  ABCAUS Case Law Citation: ABCAUS 2047 (2017) (08) ITAT The …