https://www.taxtmi.com/caselaws?id=273887 The High Court ruled in favor of the assessee, upholding the Tribunal's decision to delete additions of unexplained share application money under Section 68. The Court found that the Tribunal was justified in deleting the additions obtained through undisclosed accommodation entries, citing legal precedents Commissioner of Income Tax vs. Lovely Exports (P) Ltd. and Commissioner of Income Tax vs. M/s VTC Leasing & Finance Ltd. The appeals were dismissed, affirming the treatment of such additions in cases involving accommodation entries. en-us Thu, 04 May 2017 00:00:00 +0530 Thu, 19 Jul 2018 05:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273887 The High Court ruled in favor of the assessee, upholding the Tribunal's decision to delete additions of unexplained share application money under Section 68. The Court found that the Tribunal was justified in deleting the additions obtained through undisclosed accommodation entries, citing legal precedents Commissioner of Income Tax vs. Lovely Exports (P) Ltd. and Commissioner of Income Tax vs. M/s VTC Leasing & Finance Ltd. The appeals were dismissed, affirming the treatment of such additions in cases involving accommodation entries. Case-Laws Income Tax Thu, 04 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273887