https://www.taxtmi.com/caselaws?id=374475 The Tribunal upheld the CIT(A)'s decision to delete the additions towards share premium under Section 68 and the disallowance under Section 14A read with Rule 8D. The Tribunal found that the assessee had provided sufficient documentary evidence to establish the genuineness of the transactions and that the share premium was not an unexplained cash credit. Additionally, since the assessee did not have any exempt income, Section 14A was deemed inapplicable. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s rulings on both issues. en-us Fri, 07 Dec 2018 00:00:00 +0530 Sat, 02 Feb 2019 09:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374475 The Tribunal upheld the CIT(A)'s decision to delete the additions towards share premium under Section 68 and the disallowance under Section 14A read with Rule 8D. The Tribunal found that the assessee had provided sufficient documentary evidence to establish the genuineness of the transactions and that the share premium was not an unexplained cash credit. Additionally, since the assessee did not have any exempt income, Section 14A was deemed inapplicable. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s rulings on both issues. Case-Laws Income Tax Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374475