https://www.taxtmi.com/caselaws?id=377173 The ITAT dismissed the Revenue's appeals, upholding the CIT(A)'s order deleting additions under Sections 68 and 69C of the Income-tax Act, 1961. The ITAT found that the assessee had sufficiently proven the identity, genuineness, and creditworthiness of the investors, while the AO failed to provide concrete evidence linking the appellant to alleged cash transactions. The decision aligned with legal precedents emphasizing the Revenue's obligation to present specific evidence when challenging the legitimacy of share application money. en-us Tue, 15 Jan 2019 00:00:00 +0530 Sun, 24 Mar 2019 19:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377173 The ITAT dismissed the Revenue's appeals, upholding the CIT(A)'s order deleting additions under Sections 68 and 69C of the Income-tax Act, 1961. The ITAT found that the assessee had sufficiently proven the identity, genuineness, and creditworthiness of the investors, while the AO failed to provide concrete evidence linking the appellant to alleged cash transactions. The decision aligned with legal precedents emphasizing the Revenue's obligation to present specific evidence when challenging the legitimacy of share application money. Case-Laws Income Tax Tue, 15 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377173