https://www.taxtmi.com/caselaws?id=348082 The High Court upheld the Tribunal's decision to confirm the addition under Section 69 of the Income Tax Act, 1961, regarding unexplained cash credit in the form of share application money. The Court found that the genuineness of the investors was questionable, as the assessee failed to provide adequate evidence and confirmations, leading to the dismissal of the tax appeals. The Court emphasized that the Tribunal's findings were final, and the Revenue had given the assessee a reasonable opportunity to address the concerns regarding the authenticity of the investors. en-us Tue, 12 Sep 2017 00:00:00 +0530 Thu, 04 Oct 2018 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348082 The High Court upheld the Tribunal's decision to confirm the addition under Section 69 of the Income Tax Act, 1961, regarding unexplained cash credit in the form of share application money. The Court found that the genuineness of the investors was questionable, as the assessee failed to provide adequate evidence and confirmations, leading to the dismissal of the tax appeals. The Court emphasized that the Tribunal's findings were final, and the Revenue had given the assessee a reasonable opportunity to address the concerns regarding the authenticity of the investors. Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348082