https://www.taxtmi.com/caselaws?id=375191 The High Court upheld the Tribunal's decision regarding the addition of share application money to income for Assessment Year 2008-09. The Court found that the respondent had provided sufficient evidence to establish the legitimacy of the transaction, complying with Section 68 of the Income Tax Act. The Court emphasized that there was no evidence of tax evasion motives and dismissed the appeal, stating that the Tribunal's decision was based on factual findings supported by evidence. The appeal was dismissed without costs as it did not raise any substantial question of law. en-us Wed, 06 Feb 2019 00:00:00 +0530 Fri, 15 Feb 2019 21:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375191 The High Court upheld the Tribunal's decision regarding the addition of share application money to income for Assessment Year 2008-09. The Court found that the respondent had provided sufficient evidence to establish the legitimacy of the transaction, complying with Section 68 of the Income Tax Act. The Court emphasized that there was no evidence of tax evasion motives and dismissed the appeal, stating that the Tribunal's decision was based on factual findings supported by evidence. The appeal was dismissed without costs as it did not raise any substantial question of law. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375191