https://www.taxtmi.com/caselaws?id=215513 The High Court upheld the AO's decision to add Rs.1,00,40,000 under Section 68 of the IT Act, finding the transactions involving share capital were not genuine, despite the Appellate Commissioner and ITAT deleting the addition. Similarly, the High Court supported the addition of Rs.2,51,000 as commission paid to entry operators, overturning the decisions of the Appellate Commissioner and ITAT. The Court ruled in favor of the revenue, setting aside the lower authorities' orders and restoring the AO's assessments in both instances. en-us Mon, 30 Jul 2012 00:00:00 +0530 Wed, 08 Aug 2012 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215513 The High Court upheld the AO's decision to add Rs.1,00,40,000 under Section 68 of the IT Act, finding the transactions involving share capital were not genuine, despite the Appellate Commissioner and ITAT deleting the addition. Similarly, the High Court supported the addition of Rs.2,51,000 as commission paid to entry operators, overturning the decisions of the Appellate Commissioner and ITAT. The Court ruled in favor of the revenue, setting aside the lower authorities' orders and restoring the AO's assessments in both instances. Case-Laws Income Tax Mon, 30 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215513