https://www.taxtmi.com/caselaws?id=411912 The Tribunal allowed the appeal filed by the assessee, concluding that sufficient evidence was provided to establish the identity, creditworthiness, and genuineness of the transactions involving share capital and premium. The addition of Rs. 1,00,00,000 as unexplained cash credits by the Assessing Officer was deemed erroneous. Relying on legal precedents, including the Supreme Court's decision in CIT vs Lovely Exports (P) Ltd, the Tribunal deleted the AO's addition, resulting in a favorable outcome for the assessee. en-us Tue, 31 Aug 2021 00:00:00 +0530 Mon, 06 Sep 2021 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411912 The Tribunal allowed the appeal filed by the assessee, concluding that sufficient evidence was provided to establish the identity, creditworthiness, and genuineness of the transactions involving share capital and premium. The addition of Rs. 1,00,00,000 as unexplained cash credits by the Assessing Officer was deemed erroneous. Relying on legal precedents, including the Supreme Court's decision in CIT vs Lovely Exports (P) Ltd, the Tribunal deleted the AO's addition, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Tue, 31 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411912