https://www.taxtmi.com/caselaws?id=181776 The Revenue's appeals challenging the deletion of additions made on account of share application money and commission under section 68 were dismissed. The court upheld the decisions of the CIT (A) and Tribunal, relying on the Supreme Court's judgment in Lovely Exports (P) Ltd. The court found that the Revenue failed to prove that the transactions were non-genuine or the assessee's undisclosed income. Additionally, the deletion of the protective addition on account of contribution in AOP was confirmed. The court pronounced the order on 10th June 2011, affirming the deletion of the AO's additions. en-us Fri, 10 Jun 2011 00:00:00 +0530 Sat, 23 Apr 2016 18:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181776 The Revenue's appeals challenging the deletion of additions made on account of share application money and commission under section 68 were dismissed. The court upheld the decisions of the CIT (A) and Tribunal, relying on the Supreme Court's judgment in Lovely Exports (P) Ltd. The court found that the Revenue failed to prove that the transactions were non-genuine or the assessee's undisclosed income. Additionally, the deletion of the protective addition on account of contribution in AOP was confirmed. The court pronounced the order on 10th June 2011, affirming the deletion of the AO's additions. Case-Laws Income Tax Fri, 10 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181776