https://www.taxtmi.com/caselaws?id=239787 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the addition of Rs. 40,00,000/- under Section 68 of the Income Tax Act. The Tribunal emphasized the adequacy of evidence provided by the assessee, highlighting the lack of inquiry by the Assessing Officer and the failure to establish the share capital as undisclosed income. The decision was supported by various judicial precedents, stressing the importance of thorough inquiries before making such additions. en-us Thu, 31 Oct 2013 00:00:00 +0530 Fri, 22 Nov 2013 06:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239787 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the addition of Rs. 40,00,000/- under Section 68 of the Income Tax Act. The Tribunal emphasized the adequacy of evidence provided by the assessee, highlighting the lack of inquiry by the Assessing Officer and the failure to establish the share capital as undisclosed income. The decision was supported by various judicial precedents, stressing the importance of thorough inquiries before making such additions. Case-Laws Income Tax Thu, 31 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239787