{"id":13934,"date":"2020-11-21T15:24:38","date_gmt":"2020-11-21T15:24:38","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-international-land-and-developers-p-ltd-2020-79-itr-441-delhi-trib-2\/"},"modified":"2020-11-21T15:24:38","modified_gmt":"2020-11-21T15:24:38","slug":"dy-cit-v-international-land-and-developers-p-ltd-2020-79-itr-441-delhi-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-international-land-and-developers-p-ltd-2020-79-itr-441-delhi-trib-2\/","title":{"rendered":"Dy.CIT v. International Land and Developers P. Ltd. (2020) 79 ITR 441 ( Delhi) (Trib)"},"content":{"rendered":"<p>Tribunal held that the share premium of Rs. 90 per share had been contributed by the shareholders owing to various facts . Further, the Assessing Officer had not disputed the identity, genuineness and creditworthiness of the shareholders. Hence, the invocation of the provisions of section\u00a068\u00a0of the\u00a0Income-tax Act, 1961\u00a0for the simple reason of non-filing the valuation report by the assessee and not referring the cost of the land to the DVO, and without bringing any material on record to fulfil the criteria of section\u00a068\u00a0, was not justified. <strong>\u00a0<\/strong>( AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits &#8211;  Share premium \u2014 Identity and creditworthiness of share holders and genuineness  transaction  is not doubted \u2013  Merely for not furnishing the valuation report -Addition is held to be not justified .<\/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-13934","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3CK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13934","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=13934"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13934\/revisions"}],"predecessor-version":[{"id":13935,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13934\/revisions\/13935"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}