https://www.taxtmi.com/caselaws?id=383179 The Tribunal reversed the CIT(A)'s decision and upheld the AO's addition of INR 7,000,000 under Section 68 for unexplained share capital and the consequent addition of INR 1,22500/- for commission. The Tribunal found that the assessee failed to prove the genuineness of the transactions and the identity and creditworthiness of the shareholders, as required by law. The AO's additions were deemed justified, and the appeal was allowed in favor of the AO. en-us Mon, 15 Jul 2019 00:00:00 +0530 Thu, 18 Jul 2019 08:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383179 The Tribunal reversed the CIT(A)'s decision and upheld the AO's addition of INR 7,000,000 under Section 68 for unexplained share capital and the consequent addition of INR 1,22500/- for commission. The Tribunal found that the assessee failed to prove the genuineness of the transactions and the identity and creditworthiness of the shareholders, as required by law. The AO's additions were deemed justified, and the appeal was allowed in favor of the AO. Case-Laws Income Tax Mon, 15 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383179