https://www.taxtmi.com/caselaws?id=408303 The Tribunal upheld the CIT(A)'s order, finding that the assessee adequately proved the legitimacy of share capital and share premium transactions. The Tribunal emphasized the lack of sufficient grounds by the AO to refute the evidence provided by the assessee. As the burden shifted to the AO to disprove the evidence, the addition under section 68 was deemed unwarranted, leading to the dismissal of the Revenue's appeal. en-us Thu, 27 May 2021 00:00:00 +0530 Mon, 07 Jun 2021 08:36:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408303 The Tribunal upheld the CIT(A)'s order, finding that the assessee adequately proved the legitimacy of share capital and share premium transactions. The Tribunal emphasized the lack of sufficient grounds by the AO to refute the evidence provided by the assessee. As the burden shifted to the AO to disprove the evidence, the addition under section 68 was deemed unwarranted, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408303