https://www.taxtmi.com/caselaws?id=420353 Share application money and premium received from a foreign investor could not be added under section 68 where banking records, valuation compliant with RBI pricing guidelines and the DCF method, foreign tax-authority confirmation, and material establishing both source of funds and source of source supported the transaction. The addition was therefore deleted. Travelling expenses incurred for a hotel project could not be treated as personal expenditure of directors when documentary evidence established business purpose and no contrary material was produced. The decapitalisation was consequently deleted, and the Revenue's appeal failed. en-us Wed, 23 Feb 2022 00:00:00 +0530 Wed, 19 Apr 2023 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420353 Share application money and premium received from a foreign investor could not be added under section 68 where banking records, valuation compliant with RBI pricing guidelines and the DCF method, foreign tax-authority confirmation, and material establishing both source of funds and source of source supported the transaction. The addition was therefore deleted. Travelling expenses incurred for a hotel project could not be treated as personal expenditure of directors when documentary evidence established business purpose and no contrary material was produced. The decapitalisation was consequently deleted, and the Revenue's appeal failed. Case-Laws Income Tax Wed, 23 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420353