https://www.taxtmi.com/caselaws?id=196227 The Appellate Tribunal upheld the deletion of an addition of Rs. 9,00,000 under Section 68 of the Income-tax Act, 1961, related to share capital and share premium. The Tribunal found that the assessee had sufficiently proven the genuineness of the funds by providing necessary documentation and obtaining confirmation directly from the creditor entity. Emphasizing the importance of direct confirmation by the creditor, the Tribunal dismissed the Revenue's appeal, affirming the lower authorities' decision. en-us Fri, 25 May 2012 00:00:00 +0530 Wed, 22 Nov 2017 17:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196227 The Appellate Tribunal upheld the deletion of an addition of Rs. 9,00,000 under Section 68 of the Income-tax Act, 1961, related to share capital and share premium. The Tribunal found that the assessee had sufficiently proven the genuineness of the funds by providing necessary documentation and obtaining confirmation directly from the creditor entity. Emphasizing the importance of direct confirmation by the creditor, the Tribunal dismissed the Revenue's appeal, affirming the lower authorities' decision. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196227