https://www.taxtmi.com/caselaws?id=428978 The Tribunal upheld the addition of Rs. 10,60,50,000 as unexplained cash credit under section 68 of the Income Tax Act for the assessment year 2008-09. Despite the assessee's failure to provide sufficient evidence, the Tribunal affirmed the CIT(A)'s decision, concluding that the cash credit was likely unaccounted income through bogus share capital and share premium arrangements. The appeal was dismissed, and the Tribunal found no merit in the grounds raised by the assessee. en-us Mon, 10 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 09:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428978 The Tribunal upheld the addition of Rs. 10,60,50,000 as unexplained cash credit under section 68 of the Income Tax Act for the assessment year 2008-09. Despite the assessee's failure to provide sufficient evidence, the Tribunal affirmed the CIT(A)'s decision, concluding that the cash credit was likely unaccounted income through bogus share capital and share premium arrangements. The appeal was dismissed, and the Tribunal found no merit in the grounds raised by the assessee. Case-Laws Income Tax Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428978