https://www.taxtmi.com/caselaws?id=362906 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition of share application money, as the assessee provided sufficient evidence to establish the identity and creditworthiness of the investors. The Tribunal also upheld the CIT(A)'s ruling that no benefit accrued under Section 28(iv) of the Income Tax Act from purchasing shares at a discounted rate, dismissing the Revenue's appeals on both issues. en-us Mon, 02 Jul 2018 00:00:00 +0530 Wed, 04 Jul 2018 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362906 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition of share application money, as the assessee provided sufficient evidence to establish the identity and creditworthiness of the investors. The Tribunal also upheld the CIT(A)'s ruling that no benefit accrued under Section 28(iv) of the Income Tax Act from purchasing shares at a discounted rate, dismissing the Revenue's appeals on both issues. Case-Laws Income Tax Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362906