https://www.taxtmi.com/caselaws?id=435432 The Tribunal quashed the addition made by the Assessing Officer under Section 68 of the Income Tax Act, ruling that the share application money received was not bogus. The Tribunal also held that the addition made under Section 153C was not justified as there was no incriminating material linking the assessee to the alleged transactions found during the search. Consequently, the revenue's appeal was dismissed, and the judgment was pronounced on 17/03/2023. en-us Fri, 17 Mar 2023 00:00:00 +0530 Fri, 17 Mar 2023 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435432 The Tribunal quashed the addition made by the Assessing Officer under Section 68 of the Income Tax Act, ruling that the share application money received was not bogus. The Tribunal also held that the addition made under Section 153C was not justified as there was no incriminating material linking the assessee to the alleged transactions found during the search. Consequently, the revenue's appeal was dismissed, and the judgment was pronounced on 17/03/2023. Case-Laws Income Tax Fri, 17 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435432