Bogus share capital: AO cannot ignore document submitted by assessee

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In the present case, the assessee has been able to prove identity of the investors, their creditworthiness and genuineness of the transaction in the matter. Therefore, the authorities below should not have made or confirmed the addition of Rs. 5.75 crores in the hands of the assessee.

May 24, 2017 at 09:21AM

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from Editor

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