https://www.taxtmi.com/caselaws?id=301008 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 93,80,000 as unexplained share premium received by the assessee. The Tribunal found that the assessee had provided necessary documents to establish the genuineness of the transactions, and the A.O. had sufficient opportunity to verify the information. The Tribunal dismissed the Revenue's appeal, affirming that the share premium could not be deemed unexplained solely due to the absence of the directors of the investor companies. en-us Fri, 29 Mar 2019 00:00:00 +0530 Tue, 08 Mar 2022 08:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301008 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 93,80,000 as unexplained share premium received by the assessee. The Tribunal found that the assessee had provided necessary documents to establish the genuineness of the transactions, and the A.O. had sufficient opportunity to verify the information. The Tribunal dismissed the Revenue's appeal, affirming that the share premium could not be deemed unexplained solely due to the absence of the directors of the investor companies. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301008