https://www.taxtmi.com/caselaws?id=302383 The Tribunal ruled in favor of the assessee, upholding the deletion of additions under section 68 for unexplained share capital. The assessee successfully established creditworthiness and genuineness of transactions, fulfilling the onus. The Tribunal emphasized the necessity of incriminating material to justify additions, ultimately dismissing the Revenue's appeal and allowing the cross objection of the assessee. The decision aligned with legal principles outlined by the jurisdictional High Court, resulting in a judgment in favor of the assessee. en-us Thu, 09 Dec 2021 00:00:00 +0530 Sun, 22 May 2022 15:47:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302383 The Tribunal ruled in favor of the assessee, upholding the deletion of additions under section 68 for unexplained share capital. The assessee successfully established creditworthiness and genuineness of transactions, fulfilling the onus. The Tribunal emphasized the necessity of incriminating material to justify additions, ultimately dismissing the Revenue's appeal and allowing the cross objection of the assessee. The decision aligned with legal principles outlined by the jurisdictional High Court, resulting in a judgment in favor of the assessee. Case-Laws Income Tax Thu, 09 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302383