https://www.taxtmi.com/caselaws?id=421245 The High Court condoned the delay in filing the appeal and allowed the application for condonation of delay. The Court upheld the Tribunal's decision to delete the addition of an unexplained sum credited in the books as Share Capital and Premium under Section 68 of the Income Tax Act. The revenue's appeal was dismissed as the Court found no merit in challenging the Tribunal's findings based on the genuineness of the transaction and the identity and creditworthiness of the share applicants. The Court affirmed the Tribunal's decision, answering substantial questions of law against the revenue. en-us Mon, 11 Apr 2022 00:00:00 +0530 Wed, 20 Apr 2022 08:32:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421245 The High Court condoned the delay in filing the appeal and allowed the application for condonation of delay. The Court upheld the Tribunal's decision to delete the addition of an unexplained sum credited in the books as Share Capital and Premium under Section 68 of the Income Tax Act. The revenue's appeal was dismissed as the Court found no merit in challenging the Tribunal's findings based on the genuineness of the transaction and the identity and creditworthiness of the share applicants. The Court affirmed the Tribunal's decision, answering substantial questions of law against the revenue. Case-Laws Income Tax Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421245