https://www.taxtmi.com/caselaws?id=181778 The Income Tax Appellate Tribunal (ITAT) dismissed the revenue's appeal against the deletion of an addition of Rs. 9 lacs made under section 68 of the Income-tax Act for the assessment year 2001-02. The ITAT held that the Assessing Officer had not adequately considered the documentary evidence provided by the assessee to prove the genuineness of the transaction involving share application money. Relying on precedents such as CIT Vs. Lovely Export (P) Ltd. and CIT Vs. Stellar Investment Ltd., the ITAT concluded that the evidence submitted by the assessee was sufficient and overturned the addition. en-us Fri, 08 Jul 2011 00:00:00 +0530 Sat, 23 Apr 2016 18:20:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181778 The Income Tax Appellate Tribunal (ITAT) dismissed the revenue's appeal against the deletion of an addition of Rs. 9 lacs made under section 68 of the Income-tax Act for the assessment year 2001-02. The ITAT held that the Assessing Officer had not adequately considered the documentary evidence provided by the assessee to prove the genuineness of the transaction involving share application money. Relying on precedents such as CIT Vs. Lovely Export (P) Ltd. and CIT Vs. Stellar Investment Ltd., the ITAT concluded that the evidence submitted by the assessee was sufficient and overturned the addition. Case-Laws Income Tax Fri, 08 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181778