https://www.taxtmi.com/caselaws?id=299740 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order and holding that the addition of only share premium under section 68, while accepting the genuineness of share capital, cannot be upheld. The Tribunal emphasized the genuineness of the share capital and shareholders' identity and creditworthiness, concluding that questioning the excessiveness of share premium alone is not justified. Previous case law, including decisions of the Supreme Court and Delhi High Court, supported the Tribunal's ruling that adding share premium without questioning the share capital's genuineness is unwarranted. en-us Fri, 20 Sep 2019 00:00:00 +0530 Tue, 28 Dec 2021 08:50:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299740 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order and holding that the addition of only share premium under section 68, while accepting the genuineness of share capital, cannot be upheld. The Tribunal emphasized the genuineness of the share capital and shareholders' identity and creditworthiness, concluding that questioning the excessiveness of share premium alone is not justified. Previous case law, including decisions of the Supreme Court and Delhi High Court, supported the Tribunal's ruling that adding share premium without questioning the share capital's genuineness is unwarranted. Case-Laws Income Tax Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299740