https://www.taxtmi.com/caselaws?id=436216 The case involved challenges to additions under section 68 of the Income Tax Act, 1961 for the assessment year 2009-10. The appellant contested the addition of Unsecured Loans, while the Revenue challenged the deletion of additions related to share capital/share premium. The CIT(A) upheld some additions but remanded the matter for further examination on creditworthiness and transaction genuineness. The judgment allowed the cross-appeal for detailed verification by the Assessing Officer, emphasizing the need for thorough examination of all aspects. Both parties were directed to provide evidence for comprehensive adjudication. en-us Wed, 05 Apr 2023 00:00:00 +0530 Fri, 07 Apr 2023 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436216 The case involved challenges to additions under section 68 of the Income Tax Act, 1961 for the assessment year 2009-10. The appellant contested the addition of Unsecured Loans, while the Revenue challenged the deletion of additions related to share capital/share premium. The CIT(A) upheld some additions but remanded the matter for further examination on creditworthiness and transaction genuineness. The judgment allowed the cross-appeal for detailed verification by the Assessing Officer, emphasizing the need for thorough examination of all aspects. Both parties were directed to provide evidence for comprehensive adjudication. Case-Laws Income Tax Wed, 05 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436216