https://www.taxtmi.com/caselaws?id=190823 The Tribunal upheld the CIT's invocation of Section 263, finding the AO's order erroneous and prejudicial due to insufficient scrutiny of unsecured loans and share capital. The Tribunal supported additions under Section 68 for unexplained loans and share capital, emphasizing the need to prove creditworthiness and genuineness. The appeal was dismissed on 13th January 2016. en-us Wed, 13 Jan 2016 00:00:00 +0530 Thu, 02 Mar 2017 17:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190823 The Tribunal upheld the CIT's invocation of Section 263, finding the AO's order erroneous and prejudicial due to insufficient scrutiny of unsecured loans and share capital. The Tribunal supported additions under Section 68 for unexplained loans and share capital, emphasizing the need to prove creditworthiness and genuineness. The appeal was dismissed on 13th January 2016. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190823