https://www.taxtmi.com/caselaws?id=346385 The Tribunal overturned the addition of Rs. 1,50,00,000 under section 68 of the Income Tax Act, as no incriminating material supported the Revenue's claim of accommodation entry through share application money. The deletion of the Rs. 75,000 commission addition was upheld due to the lack of incriminating evidence. The Tribunal criticized the admission of additional evidence without proper examination under Rule 46A, leading to a remand for a fresh decision. The Commissioner's order was deemed invalid for lacking a clear rationale, resulting in the case being remanded for reevaluation. en-us Fri, 09 Dec 2016 00:00:00 +0530 Fri, 11 Aug 2017 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346385 The Tribunal overturned the addition of Rs. 1,50,00,000 under section 68 of the Income Tax Act, as no incriminating material supported the Revenue's claim of accommodation entry through share application money. The deletion of the Rs. 75,000 commission addition was upheld due to the lack of incriminating evidence. The Tribunal criticized the admission of additional evidence without proper examination under Rule 46A, leading to a remand for a fresh decision. The Commissioner's order was deemed invalid for lacking a clear rationale, resulting in the case being remanded for reevaluation. Case-Laws Income Tax Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346385