{"id":1636,"date":"2018-07-07T03:43:32","date_gmt":"2018-07-07T03:43:32","guid":{"rendered":"http:\/\/itatonline.org\/digest\/j-j-development-pvt-ltd-v-cit-calhc-www-itatonline-org\/"},"modified":"2018-07-07T09:41:16","modified_gmt":"2018-07-07T09:41:16","slug":"j-j-development-pvt-ltd-v-cit-calhc-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/j-j-development-pvt-ltd-v-cit-calhc-www-itatonline-org\/","title":{"rendered":"J. J. Development Pvt. Ltd.  v. CIT (Cal)(HC), www.itatonline.org"},"content":{"rendered":"<p>Dismissing the appeal of the assessee the Court held that ; If the alleged share applicants do not appear before the AO pursuant to the S. 131 summons and the documentation is inadequate, it is a &#8220;completely bogus claim&#8221;. The assessee cannot argue that the AO should have made inquiries from the AO of the share applicants as to their credit-worthiness \u00a0.( ITAT No. 329 of 2016, dt. 27.06.2018)<\/p>\n<p><a href=\"http:\/\/itatonline.org\/archives\/wp-content\/uploads\/JJ-Development-Bogus-Share-Capital.pdf\"><strong>[Click here to download PDF file]<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68:Cash credits-  Bogus share capital-If the alleged share applicants do not appear before the AO pursuant to the S. 131 summons and the documentation is inadequate, it is a &#8220;completely bogus claim&#8221;. The assessee cannot argue that the AO should have made inquiries from the AO of the share applicants as to their credit-worthiness [ S.131 ]<\/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":[1],"tags":[],"class_list":["post-1636","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-qo","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1636","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=1636"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1636\/revisions"}],"predecessor-version":[{"id":1663,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1636\/revisions\/1663"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=1636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=1636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=1636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}