https://www.taxtmi.com/caselaws?id=401424 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 92.50 crores made by the Assessing Officer under Section 68 of the Income Tax Act, 1961. The Tribunal found that since the transactions involved an exchange of shares without any cash inflow, Section 68 was not applicable. The appeal of the Revenue was dismissed, and the order was pronounced on 03.12.2020. en-us Thu, 03 Dec 2020 00:00:00 +0530 Mon, 07 Dec 2020 10:53:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401424 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 92.50 crores made by the Assessing Officer under Section 68 of the Income Tax Act, 1961. The Tribunal found that since the transactions involved an exchange of shares without any cash inflow, Section 68 was not applicable. The appeal of the Revenue was dismissed, and the order was pronounced on 03.12.2020. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401424