{"id":4796,"date":"2019-04-08T10:43:36","date_gmt":"2019-04-08T10:43:36","guid":{"rendered":"http:\/\/itatonline.org\/digest\/scrabble-entertainment-ltd-v-acit-2018-169-dtr-51-193-ttj-418-mum-trib-5\/"},"modified":"2019-04-08T10:43:36","modified_gmt":"2019-04-08T10:43:36","slug":"scrabble-entertainment-ltd-v-acit-2018-169-dtr-51-193-ttj-418-mum-trib-5","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/scrabble-entertainment-ltd-v-acit-2018-169-dtr-51-193-ttj-418-mum-trib-5\/","title":{"rendered":"Scrabble Entertainment Ltd. v. ACIT (2018) 169 DTR 51 \/ 193 TTJ 418 (Mum.)(Trib.)"},"content":{"rendered":"<p>Tribunal held <em>that <\/em>there was no reason for AO to doubt genuineness of transaction only on basis of issue of shares at a premium when issue of shares at a premium was not at all relevant for purpose of addition made u\/s 68 of Act.\u00a0 What needs to be considered for purpose of unexplained cash credit was identity, genuineness of transaction and creditworthiness of parties. In this case, assessee had proved all 3 ingredients by filing necessary evidences and hence, re was no reason for AO to make addition towards share premium when share premium cannot be considered as unexplained credit. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits-Share capital and premium-issue of share premium is not relevant for cash credits-Identity, genuineness of transaction and creditworthiness of parties established -Deletion of addition is held to be 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":[1],"tags":[],"class_list":["post-4796","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1fm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4796","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=4796"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4796\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}