https://www.taxtmi.com/caselaws?id=174956 The appeal by the revenue against the deletion of the addition of Rs. 45,00,000 on account of share application money under section 68 of the Income Tax Act, 1961 was dismissed. The CIT (A) deleted the addition based on evidence submitted by the assessee, including share application forms, bank statements, and confirmation from shareholders. The CIT (A) found that the share application money received was only Rs. 45 lac and not the entire amount, holding that the initial onus was discharged by the assessee. The revenue's appeal against the deletion was unsuccessful. en-us Fri, 28 Oct 2011 00:00:00 +0530 Sat, 31 Oct 2015 09:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174956 The appeal by the revenue against the deletion of the addition of Rs. 45,00,000 on account of share application money under section 68 of the Income Tax Act, 1961 was dismissed. The CIT (A) deleted the addition based on evidence submitted by the assessee, including share application forms, bank statements, and confirmation from shareholders. The CIT (A) found that the share application money received was only Rs. 45 lac and not the entire amount, holding that the initial onus was discharged by the assessee. The revenue's appeal against the deletion was unsuccessful. Case-Laws Income Tax Fri, 28 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174956