https://www.taxtmi.com/caselaws?id=404721 The Tribunal allowed the appeal for statistical purposes, remanding the issue for fresh consideration by the AO. The dispute centered on whether a sum received as share application money should be treated as unexplained credit under section 68 of the Income Tax Act. The Tribunal admitted additional evidence indicating no actual payment but only a book entry, emphasizing the need to establish the transaction's nature to determine the classification of the disputed amount. en-us Wed, 24 Feb 2021 00:00:00 +0530 Tue, 02 Mar 2021 08:19:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404721 The Tribunal allowed the appeal for statistical purposes, remanding the issue for fresh consideration by the AO. The dispute centered on whether a sum received as share application money should be treated as unexplained credit under section 68 of the Income Tax Act. The Tribunal admitted additional evidence indicating no actual payment but only a book entry, emphasizing the need to establish the transaction's nature to determine the classification of the disputed amount. Case-Laws Income Tax Wed, 24 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404721