https://www.taxtmi.com/caselaws?id=79029 The appeal challenged the order under Section 260A of the Income Tax Act for the assessment year 2001-2002, regarding additions made on unexplained cash credit and commission paid. The Tribunal's decision to delete these additions was upheld, emphasizing the genuineness of transactions shown by the appellant. Citing legal precedents like Lovely Exports Pvt. Ltd., the Tribunal ruled that share application money cannot be treated as undisclosed income without adverse evidence. Consequently, the additions on cash credit and commission were deemed unjustified, leading to the dismissal of the appeal and affirming the deletion of these additions by the lower authorities. en-us Tue, 05 Oct 2010 00:00:00 +0530 Thu, 30 Dec 2010 23:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=79029 The appeal challenged the order under Section 260A of the Income Tax Act for the assessment year 2001-2002, regarding additions made on unexplained cash credit and commission paid. The Tribunal's decision to delete these additions was upheld, emphasizing the genuineness of transactions shown by the appellant. Citing legal precedents like Lovely Exports Pvt. Ltd., the Tribunal ruled that share application money cannot be treated as undisclosed income without adverse evidence. Consequently, the additions on cash credit and commission were deemed unjustified, leading to the dismissal of the appeal and affirming the deletion of these additions by the lower authorities. Case-Laws Income Tax Tue, 05 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=79029