https://www.taxtmi.com/caselaws?id=177064 The Tribunal upheld the Ld. CIT(A)'s decision to delete the additions made under section 68 of the IT Act for the assessment years 2007-08 and 2008-09. The Tribunal found that the assessee provided sufficient evidence to support the genuineness of the share application money transactions, while the Revenue failed to rebut this evidence. The Tribunal also noted that the tax effect in both cases fell below the appeal threshold set by CBDT Instruction No.5/2014, leading to the dismissal of the Revenue's appeals. en-us Wed, 11 Mar 2015 00:00:00 +0530 Sat, 02 Jan 2016 10:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177064 The Tribunal upheld the Ld. CIT(A)'s decision to delete the additions made under section 68 of the IT Act for the assessment years 2007-08 and 2008-09. The Tribunal found that the assessee provided sufficient evidence to support the genuineness of the share application money transactions, while the Revenue failed to rebut this evidence. The Tribunal also noted that the tax effect in both cases fell below the appeal threshold set by CBDT Instruction No.5/2014, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177064