https://www.taxtmi.com/caselaws?id=182081 The department appealed the deletion of Rs. 45,00,000 addition by the A.O. under section 68 of the Income Tax Act. The A.O. treated share application money as unexplained cash credit due to common addresses, lack of fixed assets, and money trail. The ld. C.I.T.(A) deleted the addition based on precedents, finding the share capital received genuine. The Tribunal upheld this decision, emphasizing the burden of proof on the revenue to show the investment source. The appeal was dismissed, affirming the deletion of the addition. en-us Fri, 26 Nov 2010 00:00:00 +0530 Mon, 02 May 2016 14:39:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182081 The department appealed the deletion of Rs. 45,00,000 addition by the A.O. under section 68 of the Income Tax Act. The A.O. treated share application money as unexplained cash credit due to common addresses, lack of fixed assets, and money trail. The ld. C.I.T.(A) deleted the addition based on precedents, finding the share capital received genuine. The Tribunal upheld this decision, emphasizing the burden of proof on the revenue to show the investment source. The appeal was dismissed, affirming the deletion of the addition. Case-Laws Income Tax Fri, 26 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182081