https://www.taxtmi.com/caselaws?id=432384 The Tribunal ruled in favor of the assessee in a case involving the deletion of an addition under section 68 for unexplained share capital. The Tribunal found the addition unsustainable due to the lack of incriminating material and jurisdictional issues, leading to the allowance of the assessee's cross objections and deeming the Revenue's appeal as infructuous. The lack of creditworthiness and genuineness, coupled with the absence of proper inquiry and incriminating material, resulted in the Tribunal ruling in favor of the assessee. en-us Tue, 03 Jan 2023 00:00:00 +0530 Wed, 04 Jan 2023 08:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432384 The Tribunal ruled in favor of the assessee in a case involving the deletion of an addition under section 68 for unexplained share capital. The Tribunal found the addition unsustainable due to the lack of incriminating material and jurisdictional issues, leading to the allowance of the assessee's cross objections and deeming the Revenue's appeal as infructuous. The lack of creditworthiness and genuineness, coupled with the absence of proper inquiry and incriminating material, resulted in the Tribunal ruling in favor of the assessee. Case-Laws Income Tax Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432384