399 results for “disallowance”+ Section 12A(1)(b)clear
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In the result, the ground no 4 raised by the assessee is allowed
Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)
1) of the Act proceeded to treat the aforesaid sum of Rs.134.99 crores as unexplained credit under section 68 of the Act. While making the said addition, the NFAC vaguely alleged that the assessee has not filed the requisite details/ documentary evidence to establish the nature and source of credit in the form of share capital, nor it is proved