https://www.taxtmi.com/caselaws?id=353653 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 10,63,50,000 as unexplained share application money under Section 68 of the Income Tax Act. The assessee successfully proved the identity, creditworthiness, and genuineness of the investor through sufficient evidence. The Tribunal criticized the Assessing Officer for not conducting thorough investigations into the evidence provided, leading to the dismissal of the Department's appeal and the assessee's cross-objection. en-us Mon, 01 Jan 2018 00:00:00 +0530 Thu, 22 Mar 2018 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353653 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 10,63,50,000 as unexplained share application money under Section 68 of the Income Tax Act. The assessee successfully proved the identity, creditworthiness, and genuineness of the investor through sufficient evidence. The Tribunal criticized the Assessing Officer for not conducting thorough investigations into the evidence provided, leading to the dismissal of the Department's appeal and the assessee's cross-objection. Case-Laws Income Tax Mon, 01 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353653