https://www.taxtmi.com/caselaws?id=231294 The ITAT upheld the deletion of unexplained cash credit additions related to share application and share premium money, totaling Rs. 19,70,000 and Rs. 1,77,30,000, respectively. The CIT(A) found the Assessing Officer's procedure faulty and determined that the assessee had discharged the onus, citing relevant case law. Additionally, the ITAT upheld the CIT(A)'s decision on disallowed expenses, as both parties presented no new material. The ITAT dismissed the Revenue's appeal and disposed of the assessee's Cross objection in line with the CIT(A)'s order. en-us Thu, 14 Feb 2013 00:00:00 +0530 Thu, 25 Apr 2013 15:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=231294 The ITAT upheld the deletion of unexplained cash credit additions related to share application and share premium money, totaling Rs. 19,70,000 and Rs. 1,77,30,000, respectively. The CIT(A) found the Assessing Officer's procedure faulty and determined that the assessee had discharged the onus, citing relevant case law. Additionally, the ITAT upheld the CIT(A)'s decision on disallowed expenses, as both parties presented no new material. The ITAT dismissed the Revenue's appeal and disposed of the assessee's Cross objection in line with the CIT(A)'s order. Case-Laws Income Tax Thu, 14 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=231294