https://www.taxtmi.com/caselaws?id=176642 The High Court dismissed the appeal, affirming the genuineness of share transactions and deletion of additions under Section 68 of the Income Tax Act, 1961. The court found the AO's suspicions unsupported by concrete evidence, upholding the findings of the CIT(A) and ITAT based on thorough examination. The application of Section 68 was rejected as the transactions were deemed genuine, distinguishing the case from dubious tax planning methods discussed in McDowell's case. The appeal was not admitted as no substantial question of law was found. en-us Mon, 24 Feb 2014 00:00:00 +0530 Fri, 25 Dec 2015 12:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176642 The High Court dismissed the appeal, affirming the genuineness of share transactions and deletion of additions under Section 68 of the Income Tax Act, 1961. The court found the AO's suspicions unsupported by concrete evidence, upholding the findings of the CIT(A) and ITAT based on thorough examination. The application of Section 68 was rejected as the transactions were deemed genuine, distinguishing the case from dubious tax planning methods discussed in McDowell's case. The appeal was not admitted as no substantial question of law was found. Case-Laws Income Tax Mon, 24 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176642