https://www.taxtmi.com/caselaws?id=405738 The appellate tribunal upheld the deletion of the addition of Rs. 3,00,00,000 on account of bogus share capital under section 68 of the Income Tax Act, 1961. The tribunal emphasized the absence of a satisfaction note by the Assessing Officer of the searched person, leading to the quashing of proceedings under section 153C. The Revenue's appeal was dismissed as it did not challenge the findings regarding the lack of a satisfaction note. Consequently, the deletion of the addition was maintained. en-us Thu, 25 Mar 2021 00:00:00 +0530 Fri, 26 Mar 2021 08:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405738 The appellate tribunal upheld the deletion of the addition of Rs. 3,00,00,000 on account of bogus share capital under section 68 of the Income Tax Act, 1961. The tribunal emphasized the absence of a satisfaction note by the Assessing Officer of the searched person, leading to the quashing of proceedings under section 153C. The Revenue's appeal was dismissed as it did not challenge the findings regarding the lack of a satisfaction note. Consequently, the deletion of the addition was maintained. Case-Laws Income Tax Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405738