https://www.taxtmi.com/caselaws?id=258961 The High Court upheld the ITAT's decision rejecting the Revenue's appeal under Section 68 of the Income Tax Act. The Court found the addition made by the AO regarding share capital to be unjustified, as the necessary documents proving the identity of the share applicants were provided. The Court emphasized the genuineness of the transaction and the credibility of the share applicants, ruling in favor of the appellant. The Court directed the income tax authorities to take appropriate action and dismissed the appeals, stating no substantial question of law arose in the case. en-us Thu, 16 Apr 2015 00:00:00 +0530 Tue, 19 May 2026 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258961 The High Court upheld the ITAT's decision rejecting the Revenue's appeal under Section 68 of the Income Tax Act. The Court found the addition made by the AO regarding share capital to be unjustified, as the necessary documents proving the identity of the share applicants were provided. The Court emphasized the genuineness of the transaction and the credibility of the share applicants, ruling in favor of the appellant. The Court directed the income tax authorities to take appropriate action and dismissed the appeals, stating no substantial question of law arose in the case. Case-Laws Income Tax Thu, 16 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258961