https://www.taxtmi.com/caselaws?id=194725 The tribunal upheld the additions of unexplained share application money for assessment years 1996-97 and 1997-98, as the assessee failed to prove the identity, genuineness, and creditworthiness of the share applicants. Despite referencing legal precedents, the tribunal emphasized the lack of evidence and suspicious circumstances, leading to the restoration of the Assessing Officer's additions under Section 68. The Revenue's appeals were allowed, affirming the tribunal's decision to uphold the additions of unexplained share application money for both assessment years. en-us Tue, 07 Mar 2017 00:00:00 +0530 Thu, 21 Sep 2017 07:05:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194725 The tribunal upheld the additions of unexplained share application money for assessment years 1996-97 and 1997-98, as the assessee failed to prove the identity, genuineness, and creditworthiness of the share applicants. Despite referencing legal precedents, the tribunal emphasized the lack of evidence and suspicious circumstances, leading to the restoration of the Assessing Officer's additions under Section 68. The Revenue's appeals were allowed, affirming the tribunal's decision to uphold the additions of unexplained share application money for both assessment years. Case-Laws Income Tax Tue, 07 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194725