https://www.taxtmi.com/caselaws?id=178799 The ITAT dismissed the Revenue's appeal against the order of the Commissioner of Income Tax (Appeals) regarding the addition made u/s 68 of the Income Tax Act, 1961 for Assessment Year 2002-03. The ITAT upheld the CIT(A)'s decision to delete the addition based on the additional evidence submitted by the assessee, including PAN numbers, board resolutions, and confirmations. The ITAT emphasized the importance of thorough inquiries during assessment proceedings and stated that non-production of directors of subscriber companies cannot be the sole ground for sustaining the addition when substantial evidence is provided by the assessee. en-us Wed, 21 Sep 2011 00:00:00 +0530 Fri, 12 Feb 2016 18:12:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178799 The ITAT dismissed the Revenue's appeal against the order of the Commissioner of Income Tax (Appeals) regarding the addition made u/s 68 of the Income Tax Act, 1961 for Assessment Year 2002-03. The ITAT upheld the CIT(A)'s decision to delete the addition based on the additional evidence submitted by the assessee, including PAN numbers, board resolutions, and confirmations. The ITAT emphasized the importance of thorough inquiries during assessment proceedings and stated that non-production of directors of subscriber companies cannot be the sole ground for sustaining the addition when substantial evidence is provided by the assessee. Case-Laws Income Tax Wed, 21 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178799