https://www.taxtmi.com/caselaws?id=396851 The Tribunal upheld the deletion of the addition of share application money by the Assessing Officer due to lack of creditworthiness of the share applicants. The ld. CIT(A) found explanations for the source of share application money from certain parties, establishing genuineness, creditworthiness, and identity. However, the Tribunal noted inadequacies in examining the documentary evidence and remanded the assessment back to the Assessing Officer for a fresh review. The Tribunal allowed the revenue's appeal in part for re-examination based on a thorough assessment of the documentary evidence provided by the assessee, emphasizing the importance of proving creditworthiness for fair decisions. en-us Thu, 16 Jul 2020 00:00:00 +0530 Wed, 22 Jul 2020 11:57:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396851 The Tribunal upheld the deletion of the addition of share application money by the Assessing Officer due to lack of creditworthiness of the share applicants. The ld. CIT(A) found explanations for the source of share application money from certain parties, establishing genuineness, creditworthiness, and identity. However, the Tribunal noted inadequacies in examining the documentary evidence and remanded the assessment back to the Assessing Officer for a fresh review. The Tribunal allowed the revenue's appeal in part for re-examination based on a thorough assessment of the documentary evidence provided by the assessee, emphasizing the importance of proving creditworthiness for fair decisions. Case-Laws Income Tax Thu, 16 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396851