https://www.taxtmi.com/caselaws?id=293041 The Tribunal upheld the CIT(A)'s decision to delete additions under Section 68 of the Income Tax Act. The first issue involved the deletion of a Rs. 25 lakh unsecured loan, with the Tribunal finding the assessee had proven the loan's genuineness. The second issue concerned the deletion of Rs. 2,50,00,000 in unexplained share capital and premium, with the Tribunal again siding with the assessee due to sufficient evidence provided. The Tribunal dismissed the revenue's appeal, affirming the deletions. en-us Mon, 21 Oct 2019 00:00:00 +0530 Wed, 20 Jan 2021 13:26:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293041 The Tribunal upheld the CIT(A)'s decision to delete additions under Section 68 of the Income Tax Act. The first issue involved the deletion of a Rs. 25 lakh unsecured loan, with the Tribunal finding the assessee had proven the loan's genuineness. The second issue concerned the deletion of Rs. 2,50,00,000 in unexplained share capital and premium, with the Tribunal again siding with the assessee due to sufficient evidence provided. The Tribunal dismissed the revenue's appeal, affirming the deletions. Case-Laws Income Tax Mon, 21 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293041