DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL) CIRCLE 1(2) vs. M/S M.R. SHAH LOGISTICS PVT. LTD
Appeal is allowed in these terms, without order on costs
C.A. No.-002453-002453 - 2022Supreme Court28 Mar 2022
Bench: HON'BLE THE CHIEF JUSTICE
Section 132Section 132(4)Section 143(1)Section 147
70(Calcutta) it was seen that assessee-
company had received share capital from persons/entities whose
identity, creditworthiness etc were not established. Addition u/s 68
was made been made in hands of assessee-company. Subsequent,
one person K disclosed such amount before Settlement Commission
as his undisclosed income. Based upon such admittance by 'K', in
case of assessee company ITAT
