https://www.taxtmi.com/caselaws?id=400115 The Tribunal upheld the deletion of additions under Section 68 of the Income Tax Act for unexplained cash credits for Assessment Years 2010-11 and 2011-12. The assessee successfully demonstrated the genuineness and creditworthiness of share application money received, providing comprehensive documentary evidence. The Tribunal found the reliance on a third-party statement without cross-examination insufficient, leading to the dismissal of revenue's appeals and the assessee's cross-objections supporting the CIT(A)'s decision. The order was pronounced on 22nd October 2020. en-us Thu, 22 Oct 2020 00:00:00 +0530 Wed, 28 Oct 2020 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400115 The Tribunal upheld the deletion of additions under Section 68 of the Income Tax Act for unexplained cash credits for Assessment Years 2010-11 and 2011-12. The assessee successfully demonstrated the genuineness and creditworthiness of share application money received, providing comprehensive documentary evidence. The Tribunal found the reliance on a third-party statement without cross-examination insufficient, leading to the dismissal of revenue's appeals and the assessee's cross-objections supporting the CIT(A)'s decision. The order was pronounced on 22nd October 2020. Case-Laws Income Tax Thu, 22 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400115