Held that an addition for an alleged stock mismatch was incorrect as it arose from wrongly treating the ‘renunciation of a right’ to apply for shares as a sale of an undisclosed asset. (AY. 1988-89)
PCIT, v. Bhupendra Champaklal Delal [2024] 160 taxmann.com 560 (Bom.)(HC)
S. 69B : Amounts of investments not fully disclosed in books of account –Undisclosed investment in shares-Alleged stock mismatch-Order of Tribunal deleting the disallowance affirmed. [S. 260A]
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