https://www.taxtmi.com/caselaws?id=387742 The tribunal upheld the decision to treat the share premium as unexplained cash credit under Section 68 of the Income Tax Act, 1961. The tribunal directed a re-examination of compliance with Section 78 of the Companies Act, 1956, regarding the use of the share premium account. The appeals by the revenue were allowed for statistical purposes, and the case was remitted for further examination by the Assessing Officer. en-us Tue, 17 Sep 2019 00:00:00 +0530 Thu, 31 Oct 2019 18:47:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387742 The tribunal upheld the decision to treat the share premium as unexplained cash credit under Section 68 of the Income Tax Act, 1961. The tribunal directed a re-examination of compliance with Section 78 of the Companies Act, 1956, regarding the use of the share premium account. The appeals by the revenue were allowed for statistical purposes, and the case was remitted for further examination by the Assessing Officer. Case-Laws Income Tax Tue, 17 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387742