Held that the assessee failed to produce or provide the complete addresses of the two alleged shareholders nor submit any evidence to show the source of funds in their hands ; during the course of assessment the assessee did not seek cross-examination of the alleged shareholders. The grounds raised by the Department for the year under consideration were identical to those raised in the assessment year 2013-14 except for the quantum of the amount. It was evident that in the preceding year the assessee had admitted the addition made by the Assessing Officer on identical grounds ; in view of the rule of consistency, the assessee was not justified in raising the dispute without any valid reason. The findings of the Commissioner (Appeals) was upheld. (AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 68 : Cash credits-Share application money-Failure by share applicants to appear for inquiry in response to summons-Summons not served on some others-Addition is affirmed [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":[21],"tags":[],"class_list":["post-36164","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9pi","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36164","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=36164"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36164\/revisions"}],"predecessor-version":[{"id":36165,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36164\/revisions\/36165"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=36164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=36164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}