https://www.taxtmi.com/caselaws?id=380155 The appeal challenged the deletion of an addition under Section 68 of the Income Tax Act, concerning unexplained cash credit related to share capital/premium. The CIT(A) found the share capital and premium to be genuine, with evidence provided by the assessee regarding the identity and creditworthiness of the share applicants. The Tribunal remanded the matter to the AO for fresh adjudication, emphasizing the need for proper verification and giving the assessee sufficient opportunity to be heard. The Revenue's appeal was allowed for statistical purposes, leading to a fresh assessment by the AO. en-us Fri, 10 May 2019 00:00:00 +0530 Tue, 14 May 2019 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380155 The appeal challenged the deletion of an addition under Section 68 of the Income Tax Act, concerning unexplained cash credit related to share capital/premium. The CIT(A) found the share capital and premium to be genuine, with evidence provided by the assessee regarding the identity and creditworthiness of the share applicants. The Tribunal remanded the matter to the AO for fresh adjudication, emphasizing the need for proper verification and giving the assessee sufficient opportunity to be heard. The Revenue's appeal was allowed for statistical purposes, leading to a fresh assessment by the AO. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380155