https://www.taxtmi.com/caselaws?id=273898 The Tribunal ruled in favor of the Assessee, a private limited company, in a tax dispute regarding the addition of share capital under Section 68 of the Income Tax Act. The Tribunal found that the Assessee had adequately substantiated the transactions, including the share capital and premium received, and criticized the Assessing Officer for relying on retracted statements without providing an opportunity for cross-examination. The Tribunal directed the AO to delete the addition towards share capital and premium, allowing the Assessee's appeal. en-us Fri, 01 Dec 2017 00:00:00 +0530 Thu, 19 Jul 2018 05:59:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273898 The Tribunal ruled in favor of the Assessee, a private limited company, in a tax dispute regarding the addition of share capital under Section 68 of the Income Tax Act. The Tribunal found that the Assessee had adequately substantiated the transactions, including the share capital and premium received, and criticized the Assessing Officer for relying on retracted statements without providing an opportunity for cross-examination. The Tribunal directed the AO to delete the addition towards share capital and premium, allowing the Assessee's appeal. Case-Laws Income Tax Fri, 01 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273898