https://www.taxtmi.com/caselaws?id=423185 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s deletion of the addition made under Section 68 regarding the legitimacy of share application money/share premium. The Tribunal partly allowed the assessee's appeal on the disallowance of rent under Section 40A(2)(b), directing the AO to reconsider the issue. The Tribunal rejected the challenge to the validity of the assessment order under Section 143(3) read with Section 153A, affirming the AO's jurisdiction based on incriminating evidence found during the search. en-us Fri, 27 May 2022 00:00:00 +0530 Tue, 31 May 2022 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423185 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s deletion of the addition made under Section 68 regarding the legitimacy of share application money/share premium. The Tribunal partly allowed the assessee's appeal on the disallowance of rent under Section 40A(2)(b), directing the AO to reconsider the issue. The Tribunal rejected the challenge to the validity of the assessment order under Section 143(3) read with Section 153A, affirming the AO's jurisdiction based on incriminating evidence found during the search. Case-Laws Income Tax Fri, 27 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423185