https://www.taxtmi.com/caselaws?id=394183 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made under Section 68 of the Income Tax Act. The ITAT found that the assessee had sufficiently proven the identity, genuineness, and creditworthiness of the Directors providing the share application money. It emphasized the importance of the Assessing Officer conducting an independent inquiry before making such additions, ultimately dismissing the Revenue's appeal. en-us Fri, 10 Jan 2020 00:00:00 +0530 Fri, 03 Apr 2020 12:51:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394183 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made under Section 68 of the Income Tax Act. The ITAT found that the assessee had sufficiently proven the identity, genuineness, and creditworthiness of the Directors providing the share application money. It emphasized the importance of the Assessing Officer conducting an independent inquiry before making such additions, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 10 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394183