https://www.taxtmi.com/caselaws?id=409040 The Tribunal allowed the appeal filed by the assessee, resulting in the deletion of additions made by the Assessing Officer. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transactions through relevant documents. The addition of Rs. 80,00,000 related to share capital and share premium was deleted as the AO failed to establish cash credit. Additionally, the consequential addition of Rs. 24,000 for accommodation entry commission was also deleted following the removal of the primary addition. en-us Fri, 11 Jun 2021 00:00:00 +0530 Mon, 28 Jun 2021 10:03:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409040 The Tribunal allowed the appeal filed by the assessee, resulting in the deletion of additions made by the Assessing Officer. The Tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the transactions through relevant documents. The addition of Rs. 80,00,000 related to share capital and share premium was deleted as the AO failed to establish cash credit. Additionally, the consequential addition of Rs. 24,000 for accommodation entry commission was also deleted following the removal of the primary addition. Case-Laws Income Tax Fri, 11 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409040