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“Section 72(6)”

Section References (mined)Section 72Section 72(6)1 judgments

The decision most relied on for Section 72(6) is (P.) Ltd. v. ITO 9(1)(1), Mumbai (124 Taxmann.com 72), cited in 15 judgments on BharatTax.

Leading authorities on Section 72(6)

(P.) Ltd. v. ITO 9(1)(1), Mumbai
124 Taxmann.com 72 · 2021 · High Court
15
citing judgments

Cash credits received as share capital and share premium are considered unexplained under Section 68 if the assessee fails to prove the identity, creditworthiness, and genuineness of the transaction. The Assessing Officer can make an addition on this basis.

Judgments citing Section 72(6)

Comstar Mauritius Limited, Mumbai vs. CIT (It) Mumbai-2, Mumbai

In the result, the appeal of the assessee is allowed

ITA 1529/MUM/2023[2018-2019]Status: DisposedITAT Mumbai11 Jan 2024AY 2018-2019

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Comstar Mauritius Limited Cit (It), Agarwal Vijay & Associates, 503, 17Th Floor, Air India Building, Jolly Bhavan, No.1, New Marine Vs. Nariman Point, Lines, Mumbai-400 020 Mumbai-400 021 (Appellant) (Respondent) Pan No. Aagcc1225Q

For Appellant: Shri K. Gopal, ARFor Respondent: Shri Manoj Kumar Sinha, DR
Section 143(2)Section 143(3)Section 263

another certificate as per GBL license 1 to Comstar Mauritius Limited. The assessee was holding category 1 Global Business License pursuant to Section 72(6) of the Financial Services act, with effect from 8th February, 2007. The assessee was also issued tax residency certificate from 28th May, 2016 to 27th