https://www.taxtmi.com/caselaws?id=378113 The Tribunal ruled in favor of the assessee, finding that they had adequately proven the identity, genuineness, and creditworthiness of the share applicants. The Tribunal noted that the share application money and share premium from two companies had already been taxed in their respective assessments, preventing double taxation. As a result, the Tribunal deleted the addition of Rs. 17,49,95,000/- made by the Assessing Officer under Section 68 of the Income Tax Act, 1961, and allowed the appeal of the assessee. en-us Wed, 03 Apr 2019 00:00:00 +0530 Mon, 08 Apr 2019 14:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378113 The Tribunal ruled in favor of the assessee, finding that they had adequately proven the identity, genuineness, and creditworthiness of the share applicants. The Tribunal noted that the share application money and share premium from two companies had already been taxed in their respective assessments, preventing double taxation. As a result, the Tribunal deleted the addition of Rs. 17,49,95,000/- made by the Assessing Officer under Section 68 of the Income Tax Act, 1961, and allowed the appeal of the assessee. Case-Laws Income Tax Wed, 03 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378113