https://www.taxtmi.com/caselaws?id=290701 The appeal was allowed for statistical purposes, and the order was pronounced on August 09, 2019. The case involved the addition of share application money as unexplained cash credit under section 68 of the Income Tax Act, 1961. The Assessing Officer had treated the share application money as unexplained cash credit due to non-cooperation from the directors of share-subscribing companies. The CIT(Appeals) upheld the addition citing lack of creditworthiness of the share applicant companies. The Tribunal directed a fresh consideration, requiring the assessee to provide necessary cooperation and evidence for an expedited assessment. en-us Fri, 09 Aug 2019 00:00:00 +0530 Sat, 10 Oct 2020 16:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290701 The appeal was allowed for statistical purposes, and the order was pronounced on August 09, 2019. The case involved the addition of share application money as unexplained cash credit under section 68 of the Income Tax Act, 1961. The Assessing Officer had treated the share application money as unexplained cash credit due to non-cooperation from the directors of share-subscribing companies. The CIT(Appeals) upheld the addition citing lack of creditworthiness of the share applicant companies. The Tribunal directed a fresh consideration, requiring the assessee to provide necessary cooperation and evidence for an expedited assessment. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290701