https://www.taxtmi.com/caselaws?id=357900 The Tribunal allowed the appeal of the assessee, overturning the disallowance of Rs. 3,00,00,000/- under Section 68 of the Income Tax Act related to the sale of shares. The Tribunal found that the assessee had satisfied the conditions for most transactions and provided necessary details. Additionally, the disallowance of revenue expenditure amounting to Rs. 43,852/- was reversed by the Tribunal, citing the necessity for a private limited company to incur certain expenses even if not actively conducting business activities. en-us Fri, 09 Mar 2018 00:00:00 +0530 Mon, 14 May 2018 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357900 The Tribunal allowed the appeal of the assessee, overturning the disallowance of Rs. 3,00,00,000/- under Section 68 of the Income Tax Act related to the sale of shares. The Tribunal found that the assessee had satisfied the conditions for most transactions and provided necessary details. Additionally, the disallowance of revenue expenditure amounting to Rs. 43,852/- was reversed by the Tribunal, citing the necessity for a private limited company to incur certain expenses even if not actively conducting business activities. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357900