https://www.taxtmi.com/caselaws?id=368163 The Tribunal upheld the CIT(A)'s decisions to delete the additions made by the Assessing Officer under Sections 68 and 69 of the Income Tax Act, 1961. The Tribunal found that the identity, creditworthiness, and genuineness of the transactions related to share application money and rent deposit from an NRI educational society were established. Therefore, the Tribunal dismissed the revenue's appeals, confirming the legitimacy of the transactions and the sources of funds provided by the Director, ultimately ruling in favor of the assessee company. en-us Fri, 28 Sep 2018 00:00:00 +0530 Wed, 03 Oct 2018 08:22:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368163 The Tribunal upheld the CIT(A)'s decisions to delete the additions made by the Assessing Officer under Sections 68 and 69 of the Income Tax Act, 1961. The Tribunal found that the identity, creditworthiness, and genuineness of the transactions related to share application money and rent deposit from an NRI educational society were established. Therefore, the Tribunal dismissed the revenue's appeals, confirming the legitimacy of the transactions and the sources of funds provided by the Director, ultimately ruling in favor of the assessee company. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368163