https://www.taxtmi.com/caselaws?id=408837 The Tribunal upheld the decision of the Commissioner (Appeals) to delete additions made under section 68 for share application, share premium, and a gift totaling Rs. 90.85 lakhs and Rs. 1.99 Crore. Despite discrepancies in transaction details and doubts raised by the assessing officer, the Tribunal found that the assessee provided sufficient documentary evidence to prove the genuineness of the transactions. Efforts to verify information from foreign authorities yielded no adverse findings, leading to the dismissal of the revenue's appeal. The Tribunal affirmed the deletion of the additions without imposing costs. en-us Mon, 14 Jun 2021 00:00:00 +0530 Wed, 23 Jun 2021 10:10:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408837 The Tribunal upheld the decision of the Commissioner (Appeals) to delete additions made under section 68 for share application, share premium, and a gift totaling Rs. 90.85 lakhs and Rs. 1.99 Crore. Despite discrepancies in transaction details and doubts raised by the assessing officer, the Tribunal found that the assessee provided sufficient documentary evidence to prove the genuineness of the transactions. Efforts to verify information from foreign authorities yielded no adverse findings, leading to the dismissal of the revenue's appeal. The Tribunal affirmed the deletion of the additions without imposing costs. Case-Laws Income Tax Mon, 14 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408837