Tag Archives: bogus share capital

(Case Brief) Pratik Syntex Pvt. Ltd v/s ITO, 2018 – ITAT Mumbai

Brief facts and procedural history- The assessee is a dealer in textiles yarn and is also a commission agent. The assessee raised new share capital for which he was asked by the Assessing Officer (AO) to prove identity and creditworthiness of all the new shareholders as well as the genuineness of transaction of raising share […]