https://www.taxtmi.com/caselaws?id=296925 The Tribunal ruled in favor of the assessee, directing the AO to delete the addition of Rs. 7.91 crores made under section 68 of the Income Tax Act, 1961. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 22.32 crores under section 153A, emphasizing that no additions can be made without incriminating material for completed assessments. The Tribunal found that the assessee had sufficiently demonstrated the genuineness and creditworthiness of the share capital and share premium received, leading to the dismissal of the Revenue's appeal. en-us Fri, 31 May 2019 00:00:00 +0530 Wed, 11 Aug 2021 21:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296925 The Tribunal ruled in favor of the assessee, directing the AO to delete the addition of Rs. 7.91 crores made under section 68 of the Income Tax Act, 1961. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 22.32 crores under section 153A, emphasizing that no additions can be made without incriminating material for completed assessments. The Tribunal found that the assessee had sufficiently demonstrated the genuineness and creditworthiness of the share capital and share premium received, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296925