https://www.taxtmi.com/caselaws?id=413405 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,00,00,000/- under Section 68 of the Income Tax Act. The Tribunal found that the assessee had provided sufficient documentation to establish the identity and creditworthiness of the share applicant. Despite the Revenue's argument regarding the lack of appearance by the Director of the subscriber company, the Tribunal dismissed the appeal, noting the absence of adverse material and lack of justification for the addition made in subsequent proceedings under Section 148. en-us Thu, 07 Oct 2021 00:00:00 +0530 Fri, 08 Oct 2021 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413405 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,00,00,000/- under Section 68 of the Income Tax Act. The Tribunal found that the assessee had provided sufficient documentation to establish the identity and creditworthiness of the share applicant. Despite the Revenue's argument regarding the lack of appearance by the Director of the subscriber company, the Tribunal dismissed the appeal, noting the absence of adverse material and lack of justification for the addition made in subsequent proceedings under Section 148. Case-Laws Income Tax Thu, 07 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413405