INCOME TAX : Where assessee company received share capital amount from several companies and furnished necessary details such as copy of PAN and CIN, MOA/AOA, confirmation of parties, bank extracts etc., so as to prove genuineness of its transactions, impugned addition of said amount to assessee’s income under section 68 merely on basis of statement of a person who was controlling and managing these companies without providing an opportunity for his cross examination to assessee was unjustifiedINCOME TAX : Where assessee company received share capital amount from several companies and furnished necessary details such as copy of PAN and CIN, MOA/AOA, confirmation of parties, bank extracts etc., so as to prove genuineness of its transactions, impugned addition of said amount to assessee’s income under section 68 merely on basis of statement of a person who was controlling and managing these companies without providing an opportunity for his cross examination to assessee was unjustifiedwww.taxmann.com Latest Case LawsRead More