https://www.taxtmi.com/caselaws?id=187574 The ITAT dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to delete the addition of Rs. 53,00,000/- under section 68 of the Income Tax Act. The ITAT emphasized that the identity, genuineness, and creditworthiness of the shareholders were established, and the share application money could not be treated as undisclosed income of the assessee company. en-us Fri, 08 Apr 2011 00:00:00 +0530 Thu, 27 Oct 2016 12:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187574 The ITAT dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to delete the addition of Rs. 53,00,000/- under section 68 of the Income Tax Act. The ITAT emphasized that the identity, genuineness, and creditworthiness of the shareholders were established, and the share application money could not be treated as undisclosed income of the assessee company. Case-Laws Income Tax Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187574