https://www.taxtmi.com/caselaws?id=377754 The Tribunal dismissed the Department's appeal for the assessment years 2008-2009 and 2009-2010, upholding the deletion of additions made by the assessing officer regarding unexplained share application money received from a Holding Company in Mauritius. The Tribunal found that the assessee had discharged its burden under section 68 of the Income Tax Act by providing evidence of the investor's identity, creditworthiness, and the genuineness of the transaction. The additions were deemed unjustified as they were based on presumption, leading to the dismissal of the Department's appeal. en-us Wed, 27 Mar 2019 00:00:00 +0530 Wed, 03 Apr 2019 07:07:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377754 The Tribunal dismissed the Department's appeal for the assessment years 2008-2009 and 2009-2010, upholding the deletion of additions made by the assessing officer regarding unexplained share application money received from a Holding Company in Mauritius. The Tribunal found that the assessee had discharged its burden under section 68 of the Income Tax Act by providing evidence of the investor's identity, creditworthiness, and the genuineness of the transaction. The additions were deemed unjustified as they were based on presumption, leading to the dismissal of the Department's appeal. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377754