https://www.taxtmi.com/caselaws?id=307106 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO regarding share application money and undisclosed cash deposits. The share application money was deemed genuine as it was received through proper banking channels with verified details of the applicants. The cash deposits were explained as proceeds from legitimate cash sales and bank withdrawals, supported by verified records. Both the revenue's appeal and the assessee's cross-objection were dismissed, affirming the CIT(A)'s actions based on factual findings. en-us Wed, 04 May 2016 00:00:00 +0530 Sun, 19 Mar 2023 21:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307106 The Tribunal upheld the CIT(A)'s decision to delete additions made by the AO regarding share application money and undisclosed cash deposits. The share application money was deemed genuine as it was received through proper banking channels with verified details of the applicants. The cash deposits were explained as proceeds from legitimate cash sales and bank withdrawals, supported by verified records. Both the revenue's appeal and the assessee's cross-objection were dismissed, affirming the CIT(A)'s actions based on factual findings. Case-Laws Income Tax Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307106