https://www.taxtmi.com/caselaws?id=401270 The appeal was allowed by the Tribunal, resulting in the deletion of additions under section 68 of the Income Tax Act for share capital/share premium received and disallowance made under section 14A of the Act. The Tribunal found that the Assessing Officer erred in making additions without proper inquiry and incriminating material, and reversed the findings of the CIT(A) based on the assessee proving identity, genuineness of transactions, and creditworthiness of parties. The Tribunal's decision was based on legal precedents and detailed analysis, leading to the favorable outcome for the assessee. en-us Fri, 06 Nov 2020 00:00:00 +0530 Thu, 03 Dec 2020 11:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401270 The appeal was allowed by the Tribunal, resulting in the deletion of additions under section 68 of the Income Tax Act for share capital/share premium received and disallowance made under section 14A of the Act. The Tribunal found that the Assessing Officer erred in making additions without proper inquiry and incriminating material, and reversed the findings of the CIT(A) based on the assessee proving identity, genuineness of transactions, and creditworthiness of parties. The Tribunal's decision was based on legal precedents and detailed analysis, leading to the favorable outcome for the assessee. Case-Laws Income Tax Fri, 06 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401270