https://www.taxtmi.com/caselaws?id=122240 The Tribunal allowed the revenue's appeal in part. It upheld the deletion of the addition on account of share capital, emphasizing that once the identity of the share applicants is established, no addition can be made in the hands of the assessee-company. However, the Tribunal restored the addition on account of unsecured loans to the Assessing Officer for fresh consideration, highlighting the necessity to establish the genuineness and creditworthiness of the loan transactions. en-us Fri, 14 May 2010 00:00:00 +0530 Thu, 09 Aug 2012 16:18:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122240 The Tribunal allowed the revenue's appeal in part. It upheld the deletion of the addition on account of share capital, emphasizing that once the identity of the share applicants is established, no addition can be made in the hands of the assessee-company. However, the Tribunal restored the addition on account of unsecured loans to the Assessing Officer for fresh consideration, highlighting the necessity to establish the genuineness and creditworthiness of the loan transactions. Case-Laws Income Tax Fri, 14 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122240