https://www.taxtmi.com/caselaws?id=217537 The Tribunal upheld the additions made by the Assessing Officer and CIT(A) regarding unexplained share application money received from non-existent companies. The assessee failed to prove the identity, creditworthiness, and genuineness of the share applicants. Legal precedents did not support the assessee's case, and the ad-hoc disallowance of telephone expenses was also upheld. The appeal of the assessee was dismissed. en-us Mon, 16 Jul 2012 00:00:00 +0530 Fri, 21 Sep 2012 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217537 The Tribunal upheld the additions made by the Assessing Officer and CIT(A) regarding unexplained share application money received from non-existent companies. The assessee failed to prove the identity, creditworthiness, and genuineness of the share applicants. Legal precedents did not support the assessee's case, and the ad-hoc disallowance of telephone expenses was also upheld. The appeal of the assessee was dismissed. Case-Laws Income Tax Mon, 16 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217537