https://www.taxtmi.com/caselaws?id=266783 The Court condoned the 149-day delay in re-filing the appeal and dismissed the Revenue's appeal against the ITAT's decision to delete the addition of Rs. 60,00,000 to the Assessee's income under Section 68 of the Act. The Court upheld the reopening of the assessment for AY 2003-04 based on information from the Director of Income Tax (Investigation) and found that the Assessee had sufficiently proven the identity, genuineness, and creditworthiness of the companies subscribing to its shares. The Court affirmed the decisions of the CIT (A) and ITAT, concluding that no substantial question of law arose in the case. en-us Tue, 13 Oct 2015 00:00:00 +0530 Fri, 23 Oct 2015 21:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266783 The Court condoned the 149-day delay in re-filing the appeal and dismissed the Revenue's appeal against the ITAT's decision to delete the addition of Rs. 60,00,000 to the Assessee's income under Section 68 of the Act. The Court upheld the reopening of the assessment for AY 2003-04 based on information from the Director of Income Tax (Investigation) and found that the Assessee had sufficiently proven the identity, genuineness, and creditworthiness of the companies subscribing to its shares. The Court affirmed the decisions of the CIT (A) and ITAT, concluding that no substantial question of law arose in the case. Case-Laws Income Tax Tue, 13 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266783