https://www.taxtmi.com/caselaws?id=277995 The Tribunal upheld the decision of the ld. C.I.T.(A) and dismissed the department's appeal. It was concluded that the share capital of Rs. 69.30 lakhs received from investors was not liable to be treated u/s 68 as unexplained credits. The Tribunal found that the assessee had adequately demonstrated the identity, creditworthiness of share applicants, and genuineness of the transactions, in line with judicial precedents. The decision was rendered on 19.11.2010. en-us Fri, 19 Nov 2010 00:00:00 +0530 Thu, 03 Jan 2019 17:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277995 The Tribunal upheld the decision of the ld. C.I.T.(A) and dismissed the department's appeal. It was concluded that the share capital of Rs. 69.30 lakhs received from investors was not liable to be treated u/s 68 as unexplained credits. The Tribunal found that the assessee had adequately demonstrated the identity, creditworthiness of share applicants, and genuineness of the transactions, in line with judicial precedents. The decision was rendered on 19.11.2010. Case-Laws Income Tax Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277995