https://www.taxtmi.com/caselaws?id=373363 The tribunal dismissed the revenue's appeal, affirming that the assessee had successfully demonstrated the fulfilment of the primary conditions under Section 68. The tribunal found no infirmity in the CIT(A)'s order and concluded that the addition made by the Ld. AO was not justified. The tribunal also upheld that Section 56(2)(viib) was not applicable to the assessee and that allegations of price manipulation could not be the basis for addition without conclusive evidence. The revenue's appeal was thus dismissed. en-us Wed, 02 Jan 2019 00:00:00 +0530 Fri, 11 Jan 2019 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373363 The tribunal dismissed the revenue's appeal, affirming that the assessee had successfully demonstrated the fulfilment of the primary conditions under Section 68. The tribunal found no infirmity in the CIT(A)'s order and concluded that the addition made by the Ld. AO was not justified. The tribunal also upheld that Section 56(2)(viib) was not applicable to the assessee and that allegations of price manipulation could not be the basis for addition without conclusive evidence. The revenue's appeal was thus dismissed. Case-Laws Income Tax Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373363