https://www.taxtmi.com/caselaws?id=121091 The Tribunal upheld the deletion of unexplained share capital addition under section 68 of the Income-tax Act for verified shareholders, dismissing Revenue's appeal. Additionally, the Tribunal upheld the deletion of overtime payment and unaccounted sale proceeds of sludge, rejecting Revenue's grounds. However, the matter regarding sales-tax expenses on unaccounted sales was remanded for further verification. The Revenue's appeal for the assessment year 1997-98 was dismissed, while the appeal for the assessment year 1999-2000 was partly allowed for statistical purposes. en-us Wed, 31 Jan 2007 00:00:00 +0530 Thu, 26 Jul 2012 15:12:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121091 The Tribunal upheld the deletion of unexplained share capital addition under section 68 of the Income-tax Act for verified shareholders, dismissing Revenue's appeal. Additionally, the Tribunal upheld the deletion of overtime payment and unaccounted sale proceeds of sludge, rejecting Revenue's grounds. However, the matter regarding sales-tax expenses on unaccounted sales was remanded for further verification. The Revenue's appeal for the assessment year 1997-98 was dismissed, while the appeal for the assessment year 1999-2000 was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 31 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121091