https://www.taxtmi.com/caselaws?id=297767 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 3,00,00,000 under Section 68 of the IT Act, 1961, due to unproved share application and premium money. Additionally, the Tribunal confirmed the acceptance of a 9% profit rate for gross receipts. The Revenue's request to set aside the CIT(A) order was rejected, with the Tribunal finding that the CIT(A) had appropriately considered the evidence and legal precedents in making its decisions. en-us Mon, 19 Jun 2017 00:00:00 +0530 Wed, 22 Sep 2021 06:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297767 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 3,00,00,000 under Section 68 of the IT Act, 1961, due to unproved share application and premium money. Additionally, the Tribunal confirmed the acceptance of a 9% profit rate for gross receipts. The Revenue's request to set aside the CIT(A) order was rejected, with the Tribunal finding that the CIT(A) had appropriately considered the evidence and legal precedents in making its decisions. Case-Laws Income Tax Mon, 19 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297767