https://www.taxtmi.com/caselaws?id=270239 The deletion of the addition of Rs. 50,00,000 made under section 68 of the Income Tax Act by the Assessing Officer was upheld by the CIT(A) and the Appellate Tribunal. The appellant successfully demonstrated the identity and genuineness of the share application money received, supported by various documents and legal precedents. The Tribunal found the CIT(A)'s decision well-founded, emphasizing the sufficiency of evidence provided by the appellant and dismissing the Revenue's appeal. The deletion of the addition was maintained based on the appellant's substantiation and compliance with legal requirements. en-us Wed, 30 Sep 2015 00:00:00 +0530 Fri, 01 Jan 2016 10:46:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270239 The deletion of the addition of Rs. 50,00,000 made under section 68 of the Income Tax Act by the Assessing Officer was upheld by the CIT(A) and the Appellate Tribunal. The appellant successfully demonstrated the identity and genuineness of the share application money received, supported by various documents and legal precedents. The Tribunal found the CIT(A)'s decision well-founded, emphasizing the sufficiency of evidence provided by the appellant and dismissing the Revenue's appeal. The deletion of the addition was maintained based on the appellant's substantiation and compliance with legal requirements. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270239