https://www.taxtmi.com/caselaws?id=435750 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decisions on all issues. The shares received as a gift were not taxable under sections 56(1) or 28(iv), the share premium was adequately explained under section 68, no disallowance was justified under section 14A due to the absence of exempt income, and the returned loss was correctly directed to be considered. en-us Tue, 31 Jan 2023 00:00:00 +0530 Fri, 24 Mar 2023 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435750 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decisions on all issues. The shares received as a gift were not taxable under sections 56(1) or 28(iv), the share premium was adequately explained under section 68, no disallowance was justified under section 14A due to the absence of exempt income, and the returned loss was correctly directed to be considered. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435750