The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 68 of the Income Tax Act, 1961 would not be applicable in case of swapping of company shares in lieu of shares by the shareholders. During the assessment proceedings, the Assessing Officer noted that the assessee has raised […]
The post Swapping Company Shares among Shareholders does attract Addition u/s 68: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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