https://www.taxtmi.com/caselaws?id=369427 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO regarding the excess premium received on the issue of preference shares. It was concluded that the excess premium could not be taxed under Section 68 as the nature and source of the receipts were adequately explained by the assessee. The AO's method of determining the premium was deemed unsustainable, leading to the dismissal of the revenue's appeal. en-us Fri, 31 Aug 2018 00:00:00 +0530 Sat, 27 Oct 2018 07:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369427 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO regarding the excess premium received on the issue of preference shares. It was concluded that the excess premium could not be taxed under Section 68 as the nature and source of the receipts were adequately explained by the assessee. The AO's method of determining the premium was deemed unsustainable, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369427