share application money

Querist : Anonymous (Querist) 03 February 2010 This query is : Resolved
Dear Sir
when the company as received share application money and its proved with confirmation from employers that they have given share application money in cash not in a single transaction during the year by installment borrowing money from there family members and others this point can be favourable in C.I.T appeal.please sugges me

Thanking You
Hussain

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Raj Kumar Makkad (Expert) 03 February 2010
You can put up this argument before CIT.

A V Vishal (Expert) 03 February 2010
ALREADY ANSWERED THIS QUERY, THE LATEST SC JUDGEMENT IS NOT FAVOURABLE TO YOU, HOWEVER, YOU CAN ONLY TRY YOUR LUCK.

Vineet (Expert) 08 February 2010
Mr Hussain

You have been carrying this query for quite a long time. Prima facie your case is very week and can be defended on facts only. Take help from whatever facts are there in your favour as unfortunately the ransaction being in cash, there is no third party record also to substantiate your claim.

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