Revision order u/s 263 upheld as substantial amount of cash was deposited in the bank accounts of all the investors…
Share application money received vastly in excess of the authorized capital was valid reasons to issue reassessment notice u/s 148…
Interest earned on share application money kept in fixed deposit was liable to be set off against the public issue…
Addition u/s 68 for not producing shareholders details deleted as in public issue company not expected to know every detail…
Share application money circular transaction addition u/s 68 deleted where loan creditors had subscribed out of the loans repaid by the company-ITAT…
Book entry transfer of share application money to capital reserve account could not be regarded as benefit or perquisite arising…
Addition for share application money not warranted if AO not disputed correctness of evidences furnished or not made any adverse…
Penalty-271(1)(c) - share application money received from different companies with common addresses The Explanation 1 to section 271(1)(c) raises rebuttable…