https://www.taxtmi.com/caselaws?id=288835 The Tribunal ruled in favor of the assessee on various grounds: 1. Addition made without incriminating material was deleted as it was solely based on external information.2. Violation of natural justice due to denial of witness cross-examination led to deletion of related additions.3. Addition under section 68 for share capital was deleted as assessee provided substantial evidence unchallenged by the AO.4. Benefit denial due to rejected theories became irrelevant post deletion of AO's additions.5. Deletion of unexplained share application money additions due to lack of incriminating evidence.6. Disallowance under section 14A was deleted as no exempt income was earned. en-us Tue, 12 Feb 2019 00:00:00 +0530 Thu, 02 Jul 2020 07:41:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288835 The Tribunal ruled in favor of the assessee on various grounds: 1. Addition made without incriminating material was deleted as it was solely based on external information.2. Violation of natural justice due to denial of witness cross-examination led to deletion of related additions.3. Addition under section 68 for share capital was deleted as assessee provided substantial evidence unchallenged by the AO.4. Benefit denial due to rejected theories became irrelevant post deletion of AO's additions.5. Deletion of unexplained share application money additions due to lack of incriminating evidence.6. Disallowance under section 14A was deleted as no exempt income was earned. Case-Laws Income Tax Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288835