SECTION 68

Last updated: 07 July 2008

Court :

Brief :

Citation :
Commissioner of Income Tax Vs. Electro polychem LTD.

Decision: Held by the Hon`ble Court that, if it be assumed that the subscribers of application money were not genuine, under no circumstances amount of share application money could be regarded as undisclosed income of the company. Therefore share application money in fictitious names can not be treated as undisclosed income of the assessee as per section 68.
 
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Recent Judgments :

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  8. CESTAT Sets Aside ₹60 Crore Service Tax Demand: Best-Judgment Assessment Cannot Be Based on Guesswork
  9. CESTAT: Excess Service Tax Paid by Mistake Is a Deposit — Refund Not Barred by Section 11B Limitation
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