Dismissing the appeal of the revenue the Court held that the share applicants have filed the confirmation and companies appeared before AO through a representative and made submissions in support of their investments. Accordingly the deletion of addition is held to be justified. (Order of ITAT dt 18 -10-2016) (AY. 2008 -09)
PCIT v. Shree Rajlakshmi Textile Park (P.) Ltd. (2020) 268 Taxman 405 (Bom.)(HC)
S. 68 : Cash credits–Share capital-Share premium-Confirmation filed-Companies appeared before AO through a representative and made submissions in support of their investments-Deletion of addition is held to be justified.