https://www.taxtmi.com/caselaws?id=330400 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,00,000 made by the AO under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee adequately proved the identity, creditworthiness, and genuineness of the share application money received, while the AO failed to provide substantial evidence to support the addition. Consequently, the department's appeal was dismissed. en-us Tue, 21 Jun 2016 00:00:00 +0530 Mon, 25 Jul 2016 11:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330400 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,00,000 made by the AO under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee adequately proved the identity, creditworthiness, and genuineness of the share application money received, while the AO failed to provide substantial evidence to support the addition. Consequently, the department's appeal was dismissed. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330400