Supreme Court · 2019 INSC 314 · Decided 5 March 2019
Principal Commissioner of Income Tax (Central)-I v. Nra Iron & Steel PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2019 INSC 314 · [2019] 4 S.C.R. 163
- Case number
- CIVIL APPEAL No. 2463/2019
- Decided
- 5 March 2019
- Bench
- UDAY UMESH LALIT, INDU MALHOTRA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 68
Headnote
Income Tax Act, 1961 - s.68 - Cash credits - Money received through Share Capital/Premium from various companies - Assessing Officer (A.O.) issued show cause notice to respondent-assessee to establish the genuineness of the transaction - Assessee inter alia submitted was received through normal banking channels by account payee cheques/demand drafts, and produced documents such as income tax return acknowledgments to establish the identity and genuineness of the transaction - A.O. issued summons to the representatives of the investor companies
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