https://www.taxtmi.com/caselaws?id=405178 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs. 1,90,00,000 as unexplained share application money under Section 68 of the Income Tax Act. The ITAT emphasized the lack of contradictory evidence from the Assessing Officer and affirmed the deletion based on the assessee's submission of substantial proof, including confirmations, tax returns, accounts, and bank statements. Relying on relevant legal precedents, the ITAT dismissed the Revenue's appeal, supporting the deletion of the disputed amount. en-us Thu, 21 Jan 2021 00:00:00 +0530 Sat, 13 Mar 2021 08:40:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405178 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs. 1,90,00,000 as unexplained share application money under Section 68 of the Income Tax Act. The ITAT emphasized the lack of contradictory evidence from the Assessing Officer and affirmed the deletion based on the assessee's submission of substantial proof, including confirmations, tax returns, accounts, and bank statements. Relying on relevant legal precedents, the ITAT dismissed the Revenue's appeal, supporting the deletion of the disputed amount. Case-Laws Income Tax Thu, 21 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405178