https://www.taxtmi.com/caselaws?id=340746 The Tribunal partly allowed the Assessee's appeal, modifying the CIT's order and directing the AO to conduct a fresh inquiry on the receipt of share capital and share premium after affording the Assessee an opportunity to be heard. The Tribunal found that the CIT should have directed a fresh inquiry by the AO instead of adding the amount as unexplained cash credit, emphasizing the need for a thorough investigation into transactions before acceptance. en-us Wed, 22 Mar 2017 00:00:00 +0530 Mon, 27 Mar 2017 07:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340746 The Tribunal partly allowed the Assessee's appeal, modifying the CIT's order and directing the AO to conduct a fresh inquiry on the receipt of share capital and share premium after affording the Assessee an opportunity to be heard. The Tribunal found that the CIT should have directed a fresh inquiry by the AO instead of adding the amount as unexplained cash credit, emphasizing the need for a thorough investigation into transactions before acceptance. Case-Laws Income Tax Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340746