https://www.taxtmi.com/caselaws?id=372674 The appeal was filed against the order of the Commissioner of Income Tax [Appeals] regarding the addition of Rs. 8,50,000 as share application money under section 68 of the Income-tax Act, 1961 for the assessment year 2012-13. The Tribunal found that the Assessing Officer failed to adequately investigate the source of the shareholder's investment and directed the deletion of the addition, ruling it should have been made in the shareholder's hands if unexplained. The appeal was allowed, and the addition of Rs. 8.50 lakhs was deemed unwarranted, leading to its deletion. en-us Tue, 13 Nov 2018 00:00:00 +0530 Thu, 27 Dec 2018 16:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372674 The appeal was filed against the order of the Commissioner of Income Tax [Appeals] regarding the addition of Rs. 8,50,000 as share application money under section 68 of the Income-tax Act, 1961 for the assessment year 2012-13. The Tribunal found that the Assessing Officer failed to adequately investigate the source of the shareholder's investment and directed the deletion of the addition, ruling it should have been made in the shareholder's hands if unexplained. The appeal was allowed, and the addition of Rs. 8.50 lakhs was deemed unwarranted, leading to its deletion. Case-Laws Income Tax Tue, 13 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372674