https://www.taxtmi.com/caselaws?id=276827 The High Court dismissed the Revenue's appeal under section 260A of the Income-Tax Act, upholding the deletion of Rs. 9,15,000 in share application money for the assessment year 1986-87. The Court found the documentary evidence presented by the assessee, including shareholder details and transactions, sufficient to prove the genuineness of the share application money. Additionally, the Court held that the failure to produce share applicants before the Assessing Officer did not undermine the credibility of the explanation provided by the assessee, leading to the affirmation of lower authorities' decisions. en-us Thu, 17 Feb 2011 00:00:00 +0530 Mon, 19 Nov 2018 10:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276827 The High Court dismissed the Revenue's appeal under section 260A of the Income-Tax Act, upholding the deletion of Rs. 9,15,000 in share application money for the assessment year 1986-87. The Court found the documentary evidence presented by the assessee, including shareholder details and transactions, sufficient to prove the genuineness of the share application money. Additionally, the Court held that the failure to produce share applicants before the Assessing Officer did not undermine the credibility of the explanation provided by the assessee, leading to the affirmation of lower authorities' decisions. Case-Laws Income Tax Thu, 17 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276827