https://www.taxtmi.com/caselaws?id=234244 The court found that the Income Tax Appellate Tribunal (ITAT) was not justified in deleting the addition of Rs. 18,32,000/- as the investment in shares was deemed to be for supporting a financially struggling company rather than for business purposes. The court criticized the ITAT for overlooking key findings and remitted the matter for fresh consideration, ultimately ruling in favor of the revenue and against the assessee. en-us Thu, 30 May 2013 00:00:00 +0530 Fri, 25 Oct 2013 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234244 The court found that the Income Tax Appellate Tribunal (ITAT) was not justified in deleting the addition of Rs. 18,32,000/- as the investment in shares was deemed to be for supporting a financially struggling company rather than for business purposes. The court criticized the ITAT for overlooking key findings and remitted the matter for fresh consideration, ultimately ruling in favor of the revenue and against the assessee. Case-Laws Income Tax Thu, 30 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234244