https://www.taxtmi.com/caselaws?id=427872 The ITAT Visakhapatnam dismissed the Revenue's appeal against the Ld. CIT(A)'s decision to delete additions totaling Rs. 3,67,88,800 under section 68 read with section 115BBE for AY 2014-15. The investments received as share premium from two companies were found to be legitimate, supported by proper banking channels, ledger accounts, and bank statements. The ITAT upheld the Ld. CIT(A)'s order, ruling that the additions made by the Ld. AO were not justified as the investments were not unexplained cash credits. en-us Mon, 22 Aug 2022 00:00:00 +0530 Sat, 17 Sep 2022 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427872 The ITAT Visakhapatnam dismissed the Revenue's appeal against the Ld. CIT(A)'s decision to delete additions totaling Rs. 3,67,88,800 under section 68 read with section 115BBE for AY 2014-15. The investments received as share premium from two companies were found to be legitimate, supported by proper banking channels, ledger accounts, and bank statements. The ITAT upheld the Ld. CIT(A)'s order, ruling that the additions made by the Ld. AO were not justified as the investments were not unexplained cash credits. Case-Laws Income Tax Mon, 22 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427872