https://www.taxtmi.com/caselaws?id=371073 The Tribunal upheld the CIT(A)'s decisions on all three issues. It confirmed the deletion of the addition under section 68 regarding unexplained share premium, stating that the identity and creditworthiness of the share applicant were established. Additionally, it upheld the deletion of the disallowance under section 14A due to the absence of exempt income and the deletion of interest expenses under section 36(1)(iii) on account of commercial expediency. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s rulings. en-us Fri, 16 Nov 2018 00:00:00 +0530 Fri, 22 Feb 2019 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371073 The Tribunal upheld the CIT(A)'s decisions on all three issues. It confirmed the deletion of the addition under section 68 regarding unexplained share premium, stating that the identity and creditworthiness of the share applicant were established. Additionally, it upheld the deletion of the disallowance under section 14A due to the absence of exempt income and the deletion of interest expenses under section 36(1)(iii) on account of commercial expediency. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s rulings. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371073