https://www.taxtmi.com/caselaws?id=383676 The Appeals challenging the Income Tax Appellate Tribunal's judgment regarding additions made under Section 68 of the Income Tax Act were dismissed. The Tribunal and Revenue authorities found that the Appellant, a Private Limited Company, failed to discharge the initial burden under Section 68 by not providing sufficient evidence of share investors. Revelations during a search action, including admissions of bogus investments and lack of supporting documentation, supported the decision to uphold the additions. The legal challenge was rejected based on the concrete evidence and the application of Section 68 provisions. en-us Mon, 22 Jul 2019 00:00:00 +0530 Mon, 29 Jul 2019 08:20:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383676 The Appeals challenging the Income Tax Appellate Tribunal's judgment regarding additions made under Section 68 of the Income Tax Act were dismissed. The Tribunal and Revenue authorities found that the Appellant, a Private Limited Company, failed to discharge the initial burden under Section 68 by not providing sufficient evidence of share investors. Revelations during a search action, including admissions of bogus investments and lack of supporting documentation, supported the decision to uphold the additions. The legal challenge was rejected based on the concrete evidence and the application of Section 68 provisions. Case-Laws Income Tax Mon, 22 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383676