https://www.taxtmi.com/caselaws?id=177711 The Tribunal allowed the assessee's appeals for both assessment years, overturning the additions made under Section 68 for share application money and the disallowance of commission payments. The Tribunal found the transactions genuine based on evidence provided, including confirmations, affidavits, and bank statements. It noted that the companies were registered with valid PANs and had the shares reflected in their balance sheets. The AO and CIT(A) were deemed unjustified in their decisions, and the Tribunal directed the AO to grant consequential relief to the assessee. en-us Thu, 13 Jan 2011 00:00:00 +0530 Mon, 21 Aug 2023 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177711 The Tribunal allowed the assessee's appeals for both assessment years, overturning the additions made under Section 68 for share application money and the disallowance of commission payments. The Tribunal found the transactions genuine based on evidence provided, including confirmations, affidavits, and bank statements. It noted that the companies were registered with valid PANs and had the shares reflected in their balance sheets. The AO and CIT(A) were deemed unjustified in their decisions, and the Tribunal directed the AO to grant consequential relief to the assessee. Case-Laws Income Tax Thu, 13 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177711