Provisions of Section 68 of the I.T. Act, 1961, towards share application money

Last updated: 02 July 2021
Quick Summary
This case involves an appeal by SAS Hospitality Private Limited against an addition of Rs. 7,50,00,000 made by the Income Tax Officer under Section 68 of the IT Act, 1961, related to share application money. The assessee also raised grounds regarding insufficient opportunity to be heard and other disallowances under Sections 14A and 43B. The tribunal is reviewing the order passed by the Commissioner of Income Tax (Appeals).

Court :
ITAT Delhi

Brief :
This appeal is preferred by the assessee against order dated 05.12.2016 passed by the Learned Commissioner of Income Tax (Appeals)-17, New Delhi {CIT(A)} for Assessment Year: 2012-13.  

Citation :
I.T.A No.6081/Del/2017

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