https://www.taxtmi.com/caselaws?id=180337 The Tribunal upheld the CIT (A)'s decision to delete the addition of Rs. 79,99,950 made by the AO regarding unexplained share capital and share premium. The Tribunal found that the assessee had proven the genuineness of the transactions, emphasizing that the AO should investigate the shareholder companies instead of adding to the assessee's income. The department's appeal was dismissed, affirming the CIT (A)'s order. en-us Thu, 19 Jan 2012 00:00:00 +0530 Sat, 01 Apr 2023 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180337 The Tribunal upheld the CIT (A)'s decision to delete the addition of Rs. 79,99,950 made by the AO regarding unexplained share capital and share premium. The Tribunal found that the assessee had proven the genuineness of the transactions, emphasizing that the AO should investigate the shareholder companies instead of adding to the assessee's income. The department's appeal was dismissed, affirming the CIT (A)'s order. Case-Laws Income Tax Thu, 19 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180337