https://www.taxtmi.com/caselaws?id=304765 The ITAT allowed the appeal in part, deleting the addition of Rs. 14,65,000 under section 68 of the IT Act. The tribunal found that the assessee had adequately proven the identity and creditworthiness of the share applicants. However, the issue of disallowance of Rs. 2,53,124 from depreciation on plant and machinery was remanded back to the AO for further examination regarding the subsidy received and its impact on depreciation calculations. en-us Fri, 21 Jun 2013 00:00:00 +0530 Thu, 20 Oct 2022 13:04:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304765 The ITAT allowed the appeal in part, deleting the addition of Rs. 14,65,000 under section 68 of the IT Act. The tribunal found that the assessee had adequately proven the identity and creditworthiness of the share applicants. However, the issue of disallowance of Rs. 2,53,124 from depreciation on plant and machinery was remanded back to the AO for further examination regarding the subsidy received and its impact on depreciation calculations. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304765