https://www.taxtmi.com/caselaws?id=423725 The Tribunal upheld the deletion of the addition made under section 68 of the Income-tax Act, 1961. The Assessing Officer's concerns about the share premium were deemed unfounded as the source of funds was accepted, leading to the conclusion that section 68 did not apply when the source of funds was not in question. The Tribunal emphasized the genuineness of the funds and upheld the decision of the Ld. CIT(A), ultimately dismissing the Revenue's appeal. en-us Fri, 10 Jun 2022 00:00:00 +0530 Mon, 13 Jun 2022 14:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423725 The Tribunal upheld the deletion of the addition made under section 68 of the Income-tax Act, 1961. The Assessing Officer's concerns about the share premium were deemed unfounded as the source of funds was accepted, leading to the conclusion that section 68 did not apply when the source of funds was not in question. The Tribunal emphasized the genuineness of the funds and upheld the decision of the Ld. CIT(A), ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423725