https://www.taxtmi.com/caselaws?id=294194 The Tribunal allowed the appeal, ruling in favor of deleting the entire addition of Rs. 5,01,00,000 under section 68 of the Income-tax Act, 1961. The decision was based on the principle that section 68 does not apply when shares are acquired without cash consideration, but through the issuance of shares. The Tribunal emphasized that the shares were swapped and not purchased with cash, citing precedents to support its decision. en-us Fri, 28 Feb 2020 00:00:00 +0530 Fri, 26 Mar 2021 08:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294194 The Tribunal allowed the appeal, ruling in favor of deleting the entire addition of Rs. 5,01,00,000 under section 68 of the Income-tax Act, 1961. The decision was based on the principle that section 68 does not apply when shares are acquired without cash consideration, but through the issuance of shares. The Tribunal emphasized that the shares were swapped and not purchased with cash, citing precedents to support its decision. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294194