https://www.taxtmi.com/caselaws?id=181839 The HC dismissed the revenue's appeals, upholding the CIT(A) and Tribunal's decisions to delete the additions made by the Assessing Officer for unexplained share application money. The CIT(A) found that the applicants were identified, transactions were confirmed, and payments were made by cheques, with supporting affidavits and bank details provided. The Tribunal noted consistency with a similar case and found the Assessing Officer's additions unjustified. The HC emphasized the requirements under section 68 of the Income-tax Act, concluding there was no substantial question of law, affirming the CIT(A) and Tribunal's conclusions. en-us Tue, 30 Oct 2007 00:00:00 +0530 Tue, 09 Jan 2024 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181839 The HC dismissed the revenue's appeals, upholding the CIT(A) and Tribunal's decisions to delete the additions made by the Assessing Officer for unexplained share application money. The CIT(A) found that the applicants were identified, transactions were confirmed, and payments were made by cheques, with supporting affidavits and bank details provided. The Tribunal noted consistency with a similar case and found the Assessing Officer's additions unjustified. The HC emphasized the requirements under section 68 of the Income-tax Act, concluding there was no substantial question of law, affirming the CIT(A) and Tribunal's conclusions. Case-Laws Income Tax Tue, 30 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181839