Addition in Share Capital u/s 68 of the Income Tax Act, 1961

Last updated: 23 November 2021
Quick Summary
This Income Tax Appellate Tribunal case involves Mahamedha Urban Cooperative Bank Ltd. and the DCIT. The Assessing Officer raised concerns regarding share capital introduction, diversion of funds through bad loans, and non-genuine expenses, based on RBI inspection findings. The assessee denied any discrepancies. Ultimately, the appeal filed by the assessee was dismissed.

Court :
ITAT Delhi

Brief :
This appeal by the assessee is directed against order dated 14/12/2017 passed by the Ld. Commissioner of Income-Tax.

Citation :
ITA No.5017/Del/2018

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