https://www.taxtmi.com/caselaws?id=275332 The Tribunal allowed the appeals of the assessee, holding that the addition of share application money/share capital was not justified in the absence of incriminating documents found during the search. The Tribunal emphasized that the assessee proved the identity, capacity, and genuineness of the share applicants, and the assessing officer failed to conduct an independent inquiry. The additions made under section 68 of the Income Tax Act for the assessment years from 2001-02 to 2004-05 were deleted. en-us Wed, 18 Nov 2015 00:00:00 +0530 Fri, 28 Sep 2018 07:31:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275332 The Tribunal allowed the appeals of the assessee, holding that the addition of share application money/share capital was not justified in the absence of incriminating documents found during the search. The Tribunal emphasized that the assessee proved the identity, capacity, and genuineness of the share applicants, and the assessing officer failed to conduct an independent inquiry. The additions made under section 68 of the Income Tax Act for the assessment years from 2001-02 to 2004-05 were deleted. Case-Laws Income Tax Wed, 18 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275332