https://www.taxtmi.com/caselaws?id=434960 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,60,00,000 made by the Assessing Officer on account of share capital and premium. The Tribunal found that the assessee had provided sufficient evidence of the identity, creditworthiness, and genuineness of the transactions, shifting the burden of proof to the AO, who failed to disprove the evidence. As a result, the Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition. en-us Mon, 06 Feb 2023 00:00:00 +0530 Mon, 06 Mar 2023 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434960 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,60,00,000 made by the Assessing Officer on account of share capital and premium. The Tribunal found that the assessee had provided sufficient evidence of the identity, creditworthiness, and genuineness of the transactions, shifting the burden of proof to the AO, who failed to disprove the evidence. As a result, the Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition. Case-Laws Income Tax Mon, 06 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434960