Tribunal held that allotment of shares in lieu of goodwill there was no movement of actual money either cash or through bank. Addition cannot be made as cash credits (AY. 2014-15)
ITO v. Zexus Air Services (P.) Ltd. (2021) 189 ITD 434 / 88 ITR 1 (Delhi)(Trib.)
S. 68 : Cash credits-Share capital-Good will-Allotment of shares in lieu of goodwill-No movement of actual money either cash or through bank-Addition cannot be made as cash credits.