https://www.taxtmi.com/caselaws?id=400938 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,15,00,000/- made by the AO concerning share premium and share application money. It was determined that the provisions of Section 56(2)(viib) were not applicable for the relevant assessment year, and the assessee had adequately demonstrated the legitimacy of the transactions under Section 68. As a result, the Revenue's appeal was dismissed, affirming the CIT(A)'s order. en-us Fri, 10 Jul 2020 00:00:00 +0530 Mon, 23 Nov 2020 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400938 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,15,00,000/- made by the AO concerning share premium and share application money. It was determined that the provisions of Section 56(2)(viib) were not applicable for the relevant assessment year, and the assessee had adequately demonstrated the legitimacy of the transactions under Section 68. As a result, the Revenue's appeal was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 10 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400938