{"id":12830,"date":"2020-10-09T14:23:28","date_gmt":"2020-10-09T14:23:28","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ito-v-commitment-financial-services-p-ltd-2020-181-itd-682-113-taxmann-com-565-delhi-trib\/"},"modified":"2020-10-09T14:23:28","modified_gmt":"2020-10-09T14:23:28","slug":"ito-v-commitment-financial-services-p-ltd-2020-181-itd-682-113-taxmann-com-565-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-v-commitment-financial-services-p-ltd-2020-181-itd-682-113-taxmann-com-565-delhi-trib\/","title":{"rendered":"ITO v. Commitment Financial Services (P.) Ltd. (2020) 181 ITD 682 \/ 113 taxmann.com 565 (Delhi) (Trib)"},"content":{"rendered":"<p>The assessee-company was a Non-Banking Finance Company (NBFC) and during the year under consideration was engaged in the business of share broking and sub-broking, finance, etc . The AO made addition on account of share capital and premium and also on account of unsecured loan.\u00a0 CIT (A) deleted the addition <strong>. <\/strong>Dismissing the appeal of the revenue the Appellate Tribunal held that the assessee had submitted complete details of bank account particulars, PAN, ITRs and financials etc. of share applicants . In response to notice issued under S.\u00a0 133(6), share applicants had confirmed investment made by them in assessee-company along with source of their investment . Accordingly the Appellate Tribunal held that\u00a0 mere non-production of directors, without bringing any contrary material on record, could not be adversely viewed against assessee (AY .2012 13 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.68: Cash credits -Share capital- Furnished details of bank account, PAN, ITRs and financials etc. of share applicants-  In response to notice issued under S.  133(6), share applicants had confirmed investment made by them along with source of their investment-  Mere non-production of directors, without bringing any contrary material on record -Addition is held to be not valid .[ S.133(6 ) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-12830","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3kW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12830"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12830\/revisions"}],"predecessor-version":[{"id":12831,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12830\/revisions\/12831"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}