https://www.taxtmi.com/caselaws?id=435798 The ITAT dismissed the Revenue's appeal against the deletion of an addition of Rs.2,25,00,000 made by the AO on account of unexplained source of Share Capital and Share Premium under Section 68 of the Income Tax Act, 1961 for the assessment year 2009-10. The ITAT upheld the CIT (A)'s decision, noting that the AO did not find any fresh material to support the Revenue's case and had not found any adverse material pursuant to the ITAT's directions. The ITAT concluded that the addition was not sustainable and dismissed the Revenue's appeal. en-us Mon, 21 Nov 2022 00:00:00 +0530 Tue, 28 Mar 2023 08:00:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435798 The ITAT dismissed the Revenue's appeal against the deletion of an addition of Rs.2,25,00,000 made by the AO on account of unexplained source of Share Capital and Share Premium under Section 68 of the Income Tax Act, 1961 for the assessment year 2009-10. The ITAT upheld the CIT (A)'s decision, noting that the AO did not find any fresh material to support the Revenue's case and had not found any adverse material pursuant to the ITAT's directions. The ITAT concluded that the addition was not sustainable and dismissed the Revenue's appeal. Case-Laws Income Tax Mon, 21 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435798