Tribunal held that though the proviso section 68 does not apply to non-resident company the assessee has proved identity and genuineness by filing the bank account statement of itself and the certificate of incorporation. Order of CIT(A) deleting the addition is affirmed. (AY. 2016-17, 2018-19)
Cleartrip (P) Ltd v. DCIT (2023) 37 NYPTTJ 1373 / 156 taxmann.com 552 / (2024) 228 TTJ 178 / 235 DTR 129 (Mum) (Trib)
S. 68 : Cash credits-Share capital-Non-resident-Mauritius based holding company-Proviso does not apply to non-resident company-Proved identity and genuineness by filing the bank account statement of itself and the certificate of incorporation-Order of CIT(A) deleting the addition is affirmed.
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