https://www.taxtmi.com/caselaws?id=179536 The Tribunal upheld the CIT(A)'s deletion of Rs. 20 lakhs and Rs. 5 lakhs added on protective and substantive bases, respectively, for unexplained share application money. The Tribunal confirmed that the CIT(A) complied with Rule 46A in admitting additional evidence, which established the genuineness of the transactions. The revenue's appeal was dismissed, and the cross-objection by the assessee was dismissed as infructuous. The decision was supported by the Vice President and Third Member, despite the Accountant Member's dissent, who suggested a remand for further examination. en-us Tue, 15 Jun 2010 00:00:00 +0530 Fri, 09 Feb 2024 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179536 The Tribunal upheld the CIT(A)'s deletion of Rs. 20 lakhs and Rs. 5 lakhs added on protective and substantive bases, respectively, for unexplained share application money. The Tribunal confirmed that the CIT(A) complied with Rule 46A in admitting additional evidence, which established the genuineness of the transactions. The revenue's appeal was dismissed, and the cross-objection by the assessee was dismissed as infructuous. The decision was supported by the Vice President and Third Member, despite the Accountant Member's dissent, who suggested a remand for further examination. Case-Laws Income Tax Tue, 15 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179536