https://www.taxtmi.com/caselaws?id=379694 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1.30 crores made under Section 68 of the Income-tax Act, as the assessee had provided evidence establishing the identity, creditworthiness, and genuineness of the share subscribers. The AO's failure to conduct further inquiries or disprove the materials led to the conclusion that no addition was warranted under Section 68. The revenue's appeal was dismissed. en-us Wed, 01 May 2019 00:00:00 +0530 Mon, 06 May 2019 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379694 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1.30 crores made under Section 68 of the Income-tax Act, as the assessee had provided evidence establishing the identity, creditworthiness, and genuineness of the share subscribers. The AO's failure to conduct further inquiries or disprove the materials led to the conclusion that no addition was warranted under Section 68. The revenue's appeal was dismissed. Case-Laws Income Tax Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379694