https://www.taxtmi.com/caselaws?id=414353 The Tribunal upheld the CIT(A)'s decision to reverse additions under Section 68 of the Income Tax Act, finding the assessee adequately explained the source of share application money. Additionally, the Tribunal ruled in favor of the assessee regarding jurisdiction under Section 153A, stating that additions in concluded assessments require incriminating material from the search. The Revenue's appeals were dismissed, and the assessee's cross objections were allowed. en-us Mon, 25 Oct 2021 00:00:00 +0530 Tue, 02 Nov 2021 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414353 The Tribunal upheld the CIT(A)'s decision to reverse additions under Section 68 of the Income Tax Act, finding the assessee adequately explained the source of share application money. Additionally, the Tribunal ruled in favor of the assessee regarding jurisdiction under Section 153A, stating that additions in concluded assessments require incriminating material from the search. The Revenue's appeals were dismissed, and the assessee's cross objections were allowed. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414353