https://www.taxtmi.com/caselaws?id=221407 The Court upheld the deletion of the addition under Section 68 of the Income Tax Act related to unexplained share capital. The Commissioner of Income Tax (Appeals) ruled that if transactions were through banking channels and shareholder existence was proven, the burden shifted to the revenue to prove the source of investment. The Tribunal found no reason to interfere with the deletion of the addition, as the issue under Section 263 was related to share capital introduction. The Court dismissed the revenue's appeal, affirming the deletion of the addition under Section 68. en-us Fri, 11 Jan 2013 00:00:00 +0530 Sat, 09 Mar 2013 11:08:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221407 The Court upheld the deletion of the addition under Section 68 of the Income Tax Act related to unexplained share capital. The Commissioner of Income Tax (Appeals) ruled that if transactions were through banking channels and shareholder existence was proven, the burden shifted to the revenue to prove the source of investment. The Tribunal found no reason to interfere with the deletion of the addition, as the issue under Section 263 was related to share capital introduction. The Court dismissed the revenue's appeal, affirming the deletion of the addition under Section 68. Case-Laws Income Tax Fri, 11 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221407