{"id":3975,"date":"2019-02-17T11:49:31","date_gmt":"2019-02-17T11:49:31","guid":{"rendered":"http:\/\/itatonline.org\/digest\/ito-v-yadu-steels-power-pvt-ltd-delhitrib-www-itatonline-org\/"},"modified":"2019-02-17T11:49:31","modified_gmt":"2019-02-17T11:49:31","slug":"ito-v-yadu-steels-power-pvt-ltd-delhitrib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-v-yadu-steels-power-pvt-ltd-delhitrib-www-itatonline-org\/","title":{"rendered":"ITO v. Yadu Steels &#038; Power Pvt. Ltd. (Delhi)(Trib), www.itatonline.org"},"content":{"rendered":"<p><strong>Allowing the appeal of the revenue the Tribunal held that , in the case of a Private company, onus is on assessee to prove identity, creditworthiness of subscribers and most importantly genuineness of transactions- Even if AO does not make inquiry, CIT(A) should do so-Relief cannot be given merely on basis of Ration Card, Share Application forms, Voter ID etc of the subscribers -Matter was set aside to AO to decide according to the law <\/strong><strong>\u00a0<\/strong>( ITA No. 25\/Del\/2014, dt. 12.12.2019)(AY.2009-10)<b><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68: Cash credits- Share capital  &#8211; In the case of a Private company, onus is on assessee to prove identity, creditworthiness of subscribers and most importantly genuineness of transactions- Even if AO does not make inquiry, CIT(A) should do so-Relief cannot be given merely on basis of Ration Card, Share Application forms, Voter ID etc of the subscribers -Matter was set aside to AO to decide according to the law . [ 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-3975","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-127","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3975","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=3975"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3975\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}