https://www.taxtmi.com/caselaws?id=425965 The ITAT Delhi dismissed the Revenue's appeal challenging the deletion of the addition related to share application money for the assessment year 2008-09. The Tribunal upheld the CIT(A)'s decision to admit fresh evidence submitted by the assessee, accepting the notarized confirmations, income tax returns, and bank statements provided to establish the genuineness of the transactions. The Tribunal found that the assessee had fulfilled its burden of proof, and certain transactions did not impact the assessee's income for the relevant assessment year. Consequently, the Tribunal found no merit in the Revenue's grounds for appeal and affirmed the deletion of the addition. en-us Wed, 03 Aug 2022 00:00:00 +0530 Thu, 04 Aug 2022 08:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425965 The ITAT Delhi dismissed the Revenue's appeal challenging the deletion of the addition related to share application money for the assessment year 2008-09. The Tribunal upheld the CIT(A)'s decision to admit fresh evidence submitted by the assessee, accepting the notarized confirmations, income tax returns, and bank statements provided to establish the genuineness of the transactions. The Tribunal found that the assessee had fulfilled its burden of proof, and certain transactions did not impact the assessee's income for the relevant assessment year. Consequently, the Tribunal found no merit in the Revenue's grounds for appeal and affirmed the deletion of the addition. Case-Laws Income Tax Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425965