https://www.taxtmi.com/caselaws?id=387587 The Tribunal partly allowed the appeal, deleting major additions made by the AO under Section 68 of the Income Tax Act. The Tribunal found no unexplained credit for the year and deleted additions related to share capital and share application money. The addition concerning subcontract payments was remitted back to the AO for verification. The Tribunal also deleted an addition of additional profit, noting the lack of consideration for related expenses. Additionally, the Tribunal directed the AO to correctly charge interest under Sections 234B and 234C. en-us Fri, 18 Oct 2019 00:00:00 +0530 Fri, 25 Oct 2019 15:52:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387587 The Tribunal partly allowed the appeal, deleting major additions made by the AO under Section 68 of the Income Tax Act. The Tribunal found no unexplained credit for the year and deleted additions related to share capital and share application money. The addition concerning subcontract payments was remitted back to the AO for verification. The Tribunal also deleted an addition of additional profit, noting the lack of consideration for related expenses. Additionally, the Tribunal directed the AO to correctly charge interest under Sections 234B and 234C. Case-Laws Income Tax Fri, 18 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387587