https://www.taxtmi.com/caselaws?id=194014 The Tribunal upheld the CIT(A) order deleting the addition of share capital/share application money, dismissing the Revenue's appeal. It found that the Assessee had proven the transaction's genuineness and that the AO failed to establish the share application money as undisclosed income. The Tribunal emphasized the need for proper verification and examination before rejecting evidence and suggested reopening assessments of the individuals providing the share capital money. en-us Fri, 28 Nov 2014 00:00:00 +0530 Sat, 26 Aug 2017 10:20:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194014 The Tribunal upheld the CIT(A) order deleting the addition of share capital/share application money, dismissing the Revenue's appeal. It found that the Assessee had proven the transaction's genuineness and that the AO failed to establish the share application money as undisclosed income. The Tribunal emphasized the need for proper verification and examination before rejecting evidence and suggested reopening assessments of the individuals providing the share capital money. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194014