https://www.taxtmi.com/caselaws?id=197377 The High Court dismissed the appeal against the ITAT order deleting the addition under Section 68 of the Income Tax Act. The Court found that the AO's suspicion lacked concrete evidence to prove that the share application money was unaccounted for. The CIT(A) decision, upheld by the ITAT, was based on verifiable banking transactions, indicating no unaccounted cash dealings. The Court concluded that no substantial legal question arose, affirming the deletion of the addition and rejecting the appeal. en-us Tue, 03 May 2016 00:00:00 +0530 Fri, 05 Jan 2018 08:09:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197377 The High Court dismissed the appeal against the ITAT order deleting the addition under Section 68 of the Income Tax Act. The Court found that the AO's suspicion lacked concrete evidence to prove that the share application money was unaccounted for. The CIT(A) decision, upheld by the ITAT, was based on verifiable banking transactions, indicating no unaccounted cash dealings. The Court concluded that no substantial legal question arose, affirming the deletion of the addition and rejecting the appeal. Case-Laws Income Tax Tue, 03 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197377