https://www.taxtmi.com/caselaws?id=334724 The Revenue's appeals were dismissed in both instances. For the assessment year 2003-04, the Tribunal upheld the deletion of an addition made under Section 68 of the Income Tax Act, as the assessee provided substantial evidence establishing the legitimacy of share application money and unsecured loans received. Regarding the assessment year 2008-09, an addition under Section 41(1) was deleted since the liability was not proven to have ceased, leading to the Tribunal affirming the Commissioner of Income Tax (Appeals)' decision. en-us Wed, 24 Aug 2016 00:00:00 +0530 Fri, 18 Nov 2016 13:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334724 The Revenue's appeals were dismissed in both instances. For the assessment year 2003-04, the Tribunal upheld the deletion of an addition made under Section 68 of the Income Tax Act, as the assessee provided substantial evidence establishing the legitimacy of share application money and unsecured loans received. Regarding the assessment year 2008-09, an addition under Section 41(1) was deleted since the liability was not proven to have ceased, leading to the Tribunal affirming the Commissioner of Income Tax (Appeals)' decision. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334724