https://www.taxtmi.com/caselaws?id=342835 The Tribunal upheld the penalty imposed under Section 271(1)(c) and confirmed the addition under Section 68 of the Income Tax Act. The Tribunal found the assessee failed to prove the genuineness and creditworthiness of the share capital, supporting the actions of the lower authorities. The appeal was dismissed, and the order favored the Revenue, emphasizing compliance with due process. en-us Thu, 23 Mar 2017 00:00:00 +0530 Sat, 13 May 2017 08:37:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342835 The Tribunal upheld the penalty imposed under Section 271(1)(c) and confirmed the addition under Section 68 of the Income Tax Act. The Tribunal found the assessee failed to prove the genuineness and creditworthiness of the share capital, supporting the actions of the lower authorities. The appeal was dismissed, and the order favored the Revenue, emphasizing compliance with due process. Case-Laws Income Tax Thu, 23 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342835