Unaccounted funds or bogus share capital or share premium

Unaccounted funds or bogus share capital or share premium


The Delhi High Court has upheld the order of ITAT when The appellate authorities have recorded that the entire amount had been received by the assessee company by account payee cheques or demand and the identity, creditworthiness and genuineness of the transaction could not be doubted and that it cannot be said that the Assessee company had brought in its own unaccounted funds through these investor companies as bogus share capital or share premium. (PCIT vs Satkar Infrastructure (P.) Ltd., ITA 386/2022)



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