Dismissing the appeal of the revenue the Court held that, the assessee has established, identity of creditors, creditworthiness and genuineness of transactions. Accordingly the deletion of addition by the Tribunal is held to be justified.( AY. 2012-13 to 2013-14)
PCIT v. Chain House International (P.)Ltd. (2018) 408 ITR 561/( 2019) 307 CTR 19/ 174 DTR 97 (MP) (HC) PCIT v. Rohtak Chain Co (P) Ltd (2018) 408 ITR 561 /( 2019) 307 CTR 19/174 DTR 97(MP) (HC) PCIT v. Bhrat Securities Ltd (2018) 408 ITR 561/( 2019) 307 CTR 19/174 DTR 97 (MP) (HC).Editorial: SLP of revenue is dismissed ; PCIT v Rohtak Chain Co .( P) Ltd ( 2019) 266 Taxman 459 (SC)
S. 68 : Cash credits—Share application and share premium- Identity of creditors, creditworthiness and genuineness of transactions established—Addition cannot be made.