https://www.taxtmi.com/caselaws?id=371149 The High Court upheld the Tribunal's decision to delete additions made by the assessing officer regarding unexplained income from share application money. The Court found that the companies involved were merely paper companies engaged in providing accommodation entries without evidence of real trading activities. The assessing officer's reliance on retracted statements and lack of evidence of cash payments led the Court to conclude that the appellant had established the legitimacy of the shares and transactions. As the matter primarily concerned factual issues, the Court dismissed the appeal, affirming the Tribunal's decision. en-us Fri, 10 Aug 2018 00:00:00 +0530 Thu, 29 Nov 2018 07:57:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371149 The High Court upheld the Tribunal's decision to delete additions made by the assessing officer regarding unexplained income from share application money. The Court found that the companies involved were merely paper companies engaged in providing accommodation entries without evidence of real trading activities. The assessing officer's reliance on retracted statements and lack of evidence of cash payments led the Court to conclude that the appellant had established the legitimacy of the shares and transactions. As the matter primarily concerned factual issues, the Court dismissed the appeal, affirming the Tribunal's decision. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371149