https://www.taxtmi.com/caselaws?id=277999 The Tribunal allowed the appeal filed by the assessee, setting aside the addition of Rs. 10 lakhs under section 68 of the Income Tax Act, 1961, and the Rs. 10,000 as commission payment for the assessment year 2005-06. The Tribunal found that the assessee had sufficiently proved the identity, creditworthiness, and genuineness of the transaction related to the share application money, and the addition was not justified. Consequently, the Tribunal also directed the deletion of the Rs. 10,000 commission payment, as it was based on the now-overturned addition. en-us Mon, 10 Aug 2015 00:00:00 +0530 Sat, 25 Nov 2023 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277999 The Tribunal allowed the appeal filed by the assessee, setting aside the addition of Rs. 10 lakhs under section 68 of the Income Tax Act, 1961, and the Rs. 10,000 as commission payment for the assessment year 2005-06. The Tribunal found that the assessee had sufficiently proved the identity, creditworthiness, and genuineness of the transaction related to the share application money, and the addition was not justified. Consequently, the Tribunal also directed the deletion of the Rs. 10,000 commission payment, as it was based on the now-overturned addition. Case-Laws Income Tax Mon, 10 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277999