https://www.taxtmi.com/caselaws?id=412509 The Tribunal allowed the appeal, ruling in favor of the assessee. It deleted the additions made by the Assessing Officer under Section 68 for share application and premium from directors and other entities. Additionally, the Tribunal held that the premium amount of Rs. 1,08,60,000 was not taxable, as the AO failed to substantiate it as unaccounted money. The decision was based on the assessee's fulfillment of proving the identity, creditworthiness, and genuineness of the transactions, supported by relevant judicial precedents. en-us Thu, 09 Sep 2021 00:00:00 +0530 Mon, 20 Sep 2021 09:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412509 The Tribunal allowed the appeal, ruling in favor of the assessee. It deleted the additions made by the Assessing Officer under Section 68 for share application and premium from directors and other entities. Additionally, the Tribunal held that the premium amount of Rs. 1,08,60,000 was not taxable, as the AO failed to substantiate it as unaccounted money. The decision was based on the assessee's fulfillment of proving the identity, creditworthiness, and genuineness of the transactions, supported by relevant judicial precedents. Case-Laws Income Tax Thu, 09 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412509