https://www.taxtmi.com/caselaws?id=360697 The revenue's appeal against the disallowance of estimated expenditure of Rs. 13,68,796 and the addition of share capital amounting to Rs. 40,00,000 by various individuals in the assessment year 2011-12 was dismissed. The Tribunal upheld the decisions of the CIT(A) in both issues, emphasizing the lack of evidence provided by the revenue to prove discrepancies or lack of creditworthiness. The appeals were dismissed on 18th May 2018, in favor of M/s Gowthami Chemicals & Pesticides (Pvt.) Ltd., Rajahmundry. en-us Fri, 18 May 2018 00:00:00 +0530 Mon, 21 May 2018 12:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360697 The revenue's appeal against the disallowance of estimated expenditure of Rs. 13,68,796 and the addition of share capital amounting to Rs. 40,00,000 by various individuals in the assessment year 2011-12 was dismissed. The Tribunal upheld the decisions of the CIT(A) in both issues, emphasizing the lack of evidence provided by the revenue to prove discrepancies or lack of creditworthiness. The appeals were dismissed on 18th May 2018, in favor of M/s Gowthami Chemicals & Pesticides (Pvt.) Ltd., Rajahmundry. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360697