https://www.taxtmi.com/caselaws?id=334305 The Tribunal dismissed the appeals, upholding the CIT (A)'s decision to delete the additions made by the AO. It was held that the AO lacked jurisdiction under Section 153C as the satisfaction note was not recorded by the AO having jurisdiction over the assessee company. Additionally, the Tribunal found that the assessee had sufficiently proven the legitimacy of the share application money and share premium received, meeting the requirements of Section 68. The order was pronounced on 28th September 2016. en-us Wed, 28 Sep 2016 00:00:00 +0530 Wed, 09 Nov 2016 15:11:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334305 The Tribunal dismissed the appeals, upholding the CIT (A)'s decision to delete the additions made by the AO. It was held that the AO lacked jurisdiction under Section 153C as the satisfaction note was not recorded by the AO having jurisdiction over the assessee company. Additionally, the Tribunal found that the assessee had sufficiently proven the legitimacy of the share application money and share premium received, meeting the requirements of Section 68. The order was pronounced on 28th September 2016. Case-Laws Income Tax Wed, 28 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334305