RAJAT EXPORTS IMPORT (INDIA) PVT. LTD. VS ITO
ITA No. 5637/Del/2013
01-01-2019
S. 68 Bogus share capital: Failure by the AO to offer cross-examination of the
persons whose statements are relied upon means that no adverse inference can be
drawn against the assessee. Dept’s plea for a remand is not acceptable if the
assessee has discharged primary onus (Nova Promoters 342 ITR 169 (Del) &
Jansampark Advertising 375 ITR 373 (Del) distinguished). Paradise Inland 98 CCH
0417 followed.
