https://www.taxtmi.com/caselaws?id=253162 The Tribunal upheld the deletion of the addition under Section 68, stating that the premium charged on shares is a capital receipt and not income. The Tribunal emphasized that the genuineness and creditworthiness of the investors were not in question. Additionally, the Tribunal confirmed the application of Rule 8D for disallowance under Section 14A but restricted the disallowance to the actual expenditure claimed by the assessee, dismissing both the Revenue's appeal and the assessee's cross-objection. en-us Wed, 23 Apr 2014 00:00:00 +0530 Mon, 17 Nov 2014 06:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253162 The Tribunal upheld the deletion of the addition under Section 68, stating that the premium charged on shares is a capital receipt and not income. The Tribunal emphasized that the genuineness and creditworthiness of the investors were not in question. Additionally, the Tribunal confirmed the application of Rule 8D for disallowance under Section 14A but restricted the disallowance to the actual expenditure claimed by the assessee, dismissing both the Revenue's appeal and the assessee's cross-objection. Case-Laws Income Tax Wed, 23 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253162