https://www.taxtmi.com/caselaws?id=207944 The Tribunal upheld the CIT (A)'s decision, ruling in favor of the assessee and dismissing the Revenue's appeal. The Tribunal found that the identity, creditworthiness, and genuineness of the share capital source were adequately established by the assessee. Emphasizing that the burden to disprove the evidence rested on the AO, the Tribunal concluded that no addition could be made in the assessee's hands, referencing relevant case law, including CIT v. Lovely Exports (P) Ltd. en-us Mon, 03 May 2010 00:00:00 +0530 Mon, 20 Jun 2016 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207944 The Tribunal upheld the CIT (A)'s decision, ruling in favor of the assessee and dismissing the Revenue's appeal. The Tribunal found that the identity, creditworthiness, and genuineness of the share capital source were adequately established by the assessee. Emphasizing that the burden to disprove the evidence rested on the AO, the Tribunal concluded that no addition could be made in the assessee's hands, referencing relevant case law, including CIT v. Lovely Exports (P) Ltd. Case-Laws Income Tax Mon, 03 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207944