https://www.taxtmi.com/caselaws?id=409741 The Tribunal allowed the Revenue's appeal, overturning the CIT(A)'s decision and reinstating the Assessing Officer's additions under Section 68 of the Income Tax Act. The Tribunal stressed the requirement for conclusive evidence to verify the identity, creditworthiness, and genuineness of share applicants. It upheld the AO's comprehensive investigation and findings, emphasizing the importance of meeting the evidentiary burden in such cases. en-us Wed, 14 Jul 2021 00:00:00 +0530 Thu, 12 Aug 2021 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409741 The Tribunal allowed the Revenue's appeal, overturning the CIT(A)'s decision and reinstating the Assessing Officer's additions under Section 68 of the Income Tax Act. The Tribunal stressed the requirement for conclusive evidence to verify the identity, creditworthiness, and genuineness of share applicants. It upheld the AO's comprehensive investigation and findings, emphasizing the importance of meeting the evidentiary burden in such cases. Case-Laws Income Tax Wed, 14 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409741