https://www.taxtmi.com/caselaws?id=299737 The Income Tax Appellate Tribunal (ITAT) upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)], dismissing the revenue's appeal. The ITAT found that the assessee had successfully proven the identity, creditworthiness, and genuineness of the share subscribers. The addition of share premium as cash credit under Section 68 by the Assessing Officer was deemed unwarranted, supported by relevant judicial precedents and the substantial evidence presented by the assessee. The appeal by the revenue was rejected, with the decision announced on 9th January 2019. en-us Wed, 09 Jan 2019 00:00:00 +0530 Tue, 28 Dec 2021 08:50:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299737 The Income Tax Appellate Tribunal (ITAT) upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)], dismissing the revenue's appeal. The ITAT found that the assessee had successfully proven the identity, creditworthiness, and genuineness of the share subscribers. The addition of share premium as cash credit under Section 68 by the Assessing Officer was deemed unwarranted, supported by relevant judicial precedents and the substantial evidence presented by the assessee. The appeal by the revenue was rejected, with the decision announced on 9th January 2019. Case-Laws Income Tax Wed, 09 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299737