https://www.taxtmi.com/caselaws?id=430487 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal regarding the addition made under Section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the transactions involving share application money from group companies. The CIT(A)'s detailed examination of evidence and lack of substantial proof from the revenue led to the dismissal of the appeal, emphasizing that the burden to disprove the materials provided rested with the revenue. en-us Thu, 17 Nov 2022 00:00:00 +0530 Mon, 21 Nov 2022 09:52:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430487 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal regarding the addition made under Section 68 of the Income Tax Act. The Tribunal found that the assessee had sufficiently proven the identity, creditworthiness, and genuineness of the transactions involving share application money from group companies. The CIT(A)'s detailed examination of evidence and lack of substantial proof from the revenue led to the dismissal of the appeal, emphasizing that the burden to disprove the materials provided rested with the revenue. Case-Laws Income Tax Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430487