https://www.taxtmi.com/caselaws?id=393195 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition of Rs. 2,15,00,000/- related to bogus share application money. The Tribunal found that the assessee provided substantial documentary evidence to establish the legitimacy of the transactions, emphasizing the lack of contradictory evidence from the AO. Additionally, the Tribunal highlighted the importance of cross-examination when considering third-party statements and recognized the company's authority in determining share premiums. en-us Thu, 05 Mar 2020 00:00:00 +0530 Sat, 07 Mar 2020 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393195 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the addition of Rs. 2,15,00,000/- related to bogus share application money. The Tribunal found that the assessee provided substantial documentary evidence to establish the legitimacy of the transactions, emphasizing the lack of contradictory evidence from the AO. Additionally, the Tribunal highlighted the importance of cross-examination when considering third-party statements and recognized the company's authority in determining share premiums. Case-Laws Income Tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393195