https://www.taxtmi.com/caselaws?id=75775 The High Court upheld the decision of the lower authorities to delete the addition of unexplained income under Section 68 of the Income Tax Act, 1961, for the assessment year 2001-2002. The Court found that the assessee had provided sufficient evidence regarding share application money from various companies, and the identities of the share applicants were established through verification processes. The Court concluded that no substantial question of law arose for consideration, emphasizing the importance of furnishing evidence and the verification of transactions by tax authorities. en-us Fri, 30 Apr 2010 00:00:00 +0530 Fri, 17 Jun 2016 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75775 The High Court upheld the decision of the lower authorities to delete the addition of unexplained income under Section 68 of the Income Tax Act, 1961, for the assessment year 2001-2002. The Court found that the assessee had provided sufficient evidence regarding share application money from various companies, and the identities of the share applicants were established through verification processes. The Court concluded that no substantial question of law arose for consideration, emphasizing the importance of furnishing evidence and the verification of transactions by tax authorities. Case-Laws Income Tax Fri, 30 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75775