https://www.taxtmi.com/caselaws?id=216845 The appeal was against the addition of Rs. 501,000 under section 68 of the Income Tax Act, 1961, due to lack of confirmation from the investor or directors of the investor company. Despite efforts to produce evidence, the appellant failed to prove the nature and source of the share application money. The Commissioner upheld the addition, as no substantial evidence was provided. In a separate issue, the Tribunal remitted the matter back to the Assessing Officer for reconsideration, allowing the appellant a fair hearing opportunity. The appeal was allowed for statistical purposes. en-us Tue, 10 Jul 2012 00:00:00 +0530 Wed, 12 Sep 2012 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216845 The appeal was against the addition of Rs. 501,000 under section 68 of the Income Tax Act, 1961, due to lack of confirmation from the investor or directors of the investor company. Despite efforts to produce evidence, the appellant failed to prove the nature and source of the share application money. The Commissioner upheld the addition, as no substantial evidence was provided. In a separate issue, the Tribunal remitted the matter back to the Assessing Officer for reconsideration, allowing the appellant a fair hearing opportunity. The appeal was allowed for statistical purposes. Case-Laws Income Tax Tue, 10 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216845