https://www.taxtmi.com/caselaws?id=290490 The appeal by the Revenue against the addition of Rs. 2,00,00,000 under section 68 of the Income Tax Act, 1961 was dismissed. The CIT(A) allowed the appeal of the assessee, citing the genuineness of the share application money accepted in the previous scrutiny assessment and the lack of incriminating evidence found during the search. The Tribunal upheld the CIT(A)'s decision, stating that no incriminating material related to the share application money was found during the search. The appeal was dismissed, following the judgment of the Hon'ble Delhi High Court in the case of Kabul Chawla. en-us Thu, 20 Oct 2016 00:00:00 +0530 Thu, 01 Oct 2020 11:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290490 The appeal by the Revenue against the addition of Rs. 2,00,00,000 under section 68 of the Income Tax Act, 1961 was dismissed. The CIT(A) allowed the appeal of the assessee, citing the genuineness of the share application money accepted in the previous scrutiny assessment and the lack of incriminating evidence found during the search. The Tribunal upheld the CIT(A)'s decision, stating that no incriminating material related to the share application money was found during the search. The appeal was dismissed, following the judgment of the Hon'ble Delhi High Court in the case of Kabul Chawla. Case-Laws Income Tax Thu, 20 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290490