https://www.taxtmi.com/caselaws?id=286580 The High Court upheld the decision of the Tribunal to delete the addition under Section 68 of the Income Tax Act concerning unaccountable share application money. The Court emphasized that if the identity of the investors is established, such income cannot be added to the assessee's income. The Court found the Tribunal's decision to be a factual conclusion, and without substantial evidence, the addition made by the assessing officer was deemed unjustified. Consequently, the Court dismissed the Revenue's appeal as no substantial question of law arose for consideration. en-us Wed, 27 Jun 2012 00:00:00 +0530 Wed, 04 Mar 2020 16:16:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286580 The High Court upheld the decision of the Tribunal to delete the addition under Section 68 of the Income Tax Act concerning unaccountable share application money. The Court emphasized that if the identity of the investors is established, such income cannot be added to the assessee's income. The Court found the Tribunal's decision to be a factual conclusion, and without substantial evidence, the addition made by the assessing officer was deemed unjustified. Consequently, the Court dismissed the Revenue's appeal as no substantial question of law arose for consideration. Case-Laws Income Tax Wed, 27 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286580