{"id":55925,"date":"2025-08-16T10:20:57","date_gmt":"2025-08-16T04:50:57","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pr-cit-v-zexus-air-services-p-ltd-2025-303-taxman-410-delhihc\/"},"modified":"2025-08-16T10:20:57","modified_gmt":"2025-08-16T04:50:57","slug":"pr-cit-v-zexus-air-services-p-ltd-2025-303-taxman-410-delhihc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pr-cit-v-zexus-air-services-p-ltd-2025-303-taxman-410-delhihc\/","title":{"rendered":"Pr. CIT v. Zexus Air Services (P.) Ltd. (2025) 303 Taxman 410 (Delhi)(HC)"},"content":{"rendered":"<p>Assessee allotted shares to Mr. Surinder Kumar Kaushik\u00a0 towards goodwill without monetary consideration. AO made addition u\/s 68. CIT(A) and ITAT deleted addition as there was no cash receipt and entry was explained. High Court\u00a0 upheld deletion on the ground that since the transaction did not represent an actual receipt of any cash in hands\u00a0 provisions of the section\u00a0 68\u00a0 were not attracted. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits-Issue of shares against goodwill-No cash receipt-Provisions of section 68 were not attracted.[S. 260A] <\/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-55925","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ey1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55925","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=55925"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55925\/revisions"}],"predecessor-version":[{"id":55926,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55925\/revisions\/55926"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}