https://www.taxtmi.com/caselaws?id=291148 The Tribunal allowed the Revenue's appeal for statistical purposes and partly allowed the cross objections by the assessee. The case involved the addition of Rs. 4,35,00,000 under section 68 of the Income Tax Act related to Unexplained Share Premium. The CIT(A) deleted the addition, stating the assessee had proven the identity, creditworthiness, and genuineness of the share application money. The Tribunal emphasized the importance of providing a fair opportunity for cross-examination during assessment, setting aside the CIT(A)'s order and remanding the matter for a fresh assessment. en-us Wed, 30 Jan 2019 00:00:00 +0530 Thu, 29 Oct 2020 18:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291148 The Tribunal allowed the Revenue's appeal for statistical purposes and partly allowed the cross objections by the assessee. The case involved the addition of Rs. 4,35,00,000 under section 68 of the Income Tax Act related to Unexplained Share Premium. The CIT(A) deleted the addition, stating the assessee had proven the identity, creditworthiness, and genuineness of the share application money. The Tribunal emphasized the importance of providing a fair opportunity for cross-examination during assessment, setting aside the CIT(A)'s order and remanding the matter for a fresh assessment. Case-Laws Income Tax Wed, 30 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291148