https://www.taxtmi.com/caselaws?id=267483 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and deleting the additions related to unexplained receipts of share application money and commission payments. The burden of proof regarding the creditworthiness of share applicants was deemed fulfilled by the assessee, supported by necessary details and statements from share applicants. The Tribunal emphasized the importance of the AO conducting thorough enquiries and providing adverse material to refute the assessee's claims under Section 68 of the Income Tax Act, ultimately leading to the deletion of the additions. en-us Thu, 08 Oct 2015 00:00:00 +0530 Sat, 07 Nov 2015 10:10:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267483 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and deleting the additions related to unexplained receipts of share application money and commission payments. The burden of proof regarding the creditworthiness of share applicants was deemed fulfilled by the assessee, supported by necessary details and statements from share applicants. The Tribunal emphasized the importance of the AO conducting thorough enquiries and providing adverse material to refute the assessee's claims under Section 68 of the Income Tax Act, ultimately leading to the deletion of the additions. Case-Laws Income Tax Thu, 08 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267483