https://www.taxtmi.com/caselaws?id=278001 The Tribunal allowed the appeal, directing the deletion of the addition of share application money under section 68 of the Income Tax Act for A.Y. 2005-06. The appellant successfully demonstrated the genuineness of the transactions with Jay Kali Properties (P) Ltd. and Kalisaran Properties (P) Ltd., establishing the identity, creditworthiness, and authenticity of the funds used. The Tribunal found the revenue authorities' decision to be unsustainable based on the evidence presented, leading to the removal of the additions. en-us Wed, 20 Jan 2016 00:00:00 +0530 Fri, 04 Jan 2019 06:17:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278001 The Tribunal allowed the appeal, directing the deletion of the addition of share application money under section 68 of the Income Tax Act for A.Y. 2005-06. The appellant successfully demonstrated the genuineness of the transactions with Jay Kali Properties (P) Ltd. and Kalisaran Properties (P) Ltd., establishing the identity, creditworthiness, and authenticity of the funds used. The Tribunal found the revenue authorities' decision to be unsustainable based on the evidence presented, leading to the removal of the additions. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278001