https://www.taxtmi.com/caselaws?id=436613 Calcutta HC allowed the revenue's appeal, holding the Tribunal erred in fully accepting the assessee's claim under s.68. The HC found the assessee failed to prove genuineness, creditworthiness and identity of counterparties and that the share-price rise was artificially manipulated; AO and CIT(A)'s inferential findings were reasonable. In view of an earlier HC pronouncement criticizing the relied-upon ITAT decision, the court upheld additions under s.68 and sustained the exercise of power under s.263 in favor of the revenue. en-us Mon, 10 Apr 2023 00:00:00 +0530 Mon, 29 Sep 2025 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436613 Calcutta HC allowed the revenue's appeal, holding the Tribunal erred in fully accepting the assessee's claim under s.68. The HC found the assessee failed to prove genuineness, creditworthiness and identity of counterparties and that the share-price rise was artificially manipulated; AO and CIT(A)'s inferential findings were reasonable. In view of an earlier HC pronouncement criticizing the relied-upon ITAT decision, the court upheld additions under s.68 and sustained the exercise of power under s.263 in favor of the revenue. Case-Laws Income Tax Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436613