https://www.taxtmi.com/caselaws?id=412124 The High Court overturned the ITAT's decision and upheld the Assessing Officer's order to treat the share application money as undisclosed income under Section 68. The court found that the ITAT failed to consider the detailed evidence provided by the AO and CIT(A), deeming the ITAT's decision as lacking reasoning. The court reinstated the addition of the share application money, emphasizing the thorough investigation conducted by the AO and supporting evidence presented. The Revenue succeeded in this case, and the ITAT's decision was overturned. en-us Wed, 25 Aug 2021 00:00:00 +0530 Thu, 28 Apr 2022 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412124 The High Court overturned the ITAT's decision and upheld the Assessing Officer's order to treat the share application money as undisclosed income under Section 68. The court found that the ITAT failed to consider the detailed evidence provided by the AO and CIT(A), deeming the ITAT's decision as lacking reasoning. The court reinstated the addition of the share application money, emphasizing the thorough investigation conducted by the AO and supporting evidence presented. The Revenue succeeded in this case, and the ITAT's decision was overturned. Case-Laws Income Tax Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412124