share capital & premium

[CA.BHUPENDRASHAH]

If proper source of capita and share premium is not shown than addition can be made under sec 68 of IT Act
ITA No.2653/Del./2011
(Assessment Year: 2007-08)

[deepak garg]

Hello sir...............

According to sec. 68 additions shall be made if source of income is not declared by assessee but in case of company in which public is not substantially interested, Additions shall only be made if the person being a resident fail to offer explanation and source of income in his books of accounts and such explanation to the AO is found to be unsatisfactory..............

Regards
Deepak garg