https://www.taxtmi.com/caselaws?id=270149 The Tribunal dismissed all appeals filed by the Revenue, upholding the CIT(A)'s orders that deleted the additions made under Section 68 of the Income Tax Act in respect of share application money and unsecured loans. The Tribunal emphasized that the assessee had provided sufficient evidence to substantiate the identity, genuineness, and creditworthiness of the transactions, and the Revenue had not rebutted these facts. The Tribunal's decision was consistent with various judicial precedents and the Supreme Court's ruling in CIT vs. M/s. Lovely Exports (Pvt) Ltd. en-us Mon, 30 Nov 2015 00:00:00 +0530 Wed, 15 Feb 2017 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270149 The Tribunal dismissed all appeals filed by the Revenue, upholding the CIT(A)'s orders that deleted the additions made under Section 68 of the Income Tax Act in respect of share application money and unsecured loans. The Tribunal emphasized that the assessee had provided sufficient evidence to substantiate the identity, genuineness, and creditworthiness of the transactions, and the Revenue had not rebutted these facts. The Tribunal's decision was consistent with various judicial precedents and the Supreme Court's ruling in CIT vs. M/s. Lovely Exports (Pvt) Ltd. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270149