{"id":12834,"date":"2020-10-09T14:28:32","date_gmt":"2020-10-09T14:28:32","guid":{"rendered":"https:\/\/itatonline.org\/digest\/par-excellence-leasing-and-financial-services-p-ltd-v-acit-2020-181-itd-437-delhi-trib\/"},"modified":"2021-06-26T12:51:45","modified_gmt":"2021-06-26T07:21:45","slug":"par-excellence-leasing-and-financial-services-p-ltd-v-acit-2020-181-itd-437-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/par-excellence-leasing-and-financial-services-p-ltd-v-acit-2020-181-itd-437-delhi-trib\/","title":{"rendered":"Par Excellence Leasing and Financial Services (P.) Ltd. v. ACIT (2020) 181 ITD 437\/ 195 DTR 129\/ 207 TTJ 1133 (Delhi) (Trib.)"},"content":{"rendered":"<div>\n<p>AO on basis of documents seized during search conducted at premises of another company issued notice\u00a0 to provide details of share capital and share preimum obtained by assessee in financial years 2009-10 to 2011-12 and also requested\u00a0 to produce controlling persons of share applicant companies along with supportive documentary evidence for examination. Assessee\u00a0 filed certain parties&#8217; details, failed to produce controlling persons. AO conducted field enquiries in respect of share applicant companies revealed that such companies never existed in given addresses.\u00a0 The AO held that these companies were nothing but paper companies created to conduit companies to facilitate these type of transactions accordingly made addition u\/s 68 of the Act . CIT (A) confirmed the addition . On appeal the Appellate Tribunal held that on facts the\u00a0 AO rightly \u00a0inferred that assessee had rooted its own money through bogus companies; thus, addition was affirmed . (AY. 2010 -11, 2012 -13)<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits -Share capital &#8211; Companies never existed in given addresses-  Fictitious and bogus companies-   Addition is held to be justified . [ S. 153A , 153C ]<\/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-12834","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3l0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12834","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=12834"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12834\/revisions"}],"predecessor-version":[{"id":19654,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12834\/revisions\/19654"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}