https://www.taxtmi.com/caselaws?id=377837 The Tribunal upheld the deletion of the addition of Rs. 1,60,00,000 under Section 68 of the Income Tax Act, 1961. The assessee successfully proved the identity, creditworthiness, and genuineness of share subscribers through detailed documentation. As the assessee met its burden of proof, the onus shifted to the Assessing Officer (AO) who failed to disprove the evidence provided. Relying on legal precedents, the Tribunal dismissed the Revenue's appeal, concluding that the deletion of the addition was justified due to the AO's lack of further inquiries or contradictory evidence. en-us Fri, 29 Mar 2019 00:00:00 +0530 Wed, 03 Apr 2019 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377837 The Tribunal upheld the deletion of the addition of Rs. 1,60,00,000 under Section 68 of the Income Tax Act, 1961. The assessee successfully proved the identity, creditworthiness, and genuineness of share subscribers through detailed documentation. As the assessee met its burden of proof, the onus shifted to the Assessing Officer (AO) who failed to disprove the evidence provided. Relying on legal precedents, the Tribunal dismissed the Revenue's appeal, concluding that the deletion of the addition was justified due to the AO's lack of further inquiries or contradictory evidence. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377837