https://www.taxtmi.com/caselaws?id=437414 The Tribunal confirmed the Assessing Officer's additions under Section 68 of the Income Tax Act for unexplained cash credits in two cases involving different companies engaged in nursing and movie production, respectively. The Tribunal found that the assessees failed to provide satisfactory explanations for the share capital and share premium received from questionable entities, leading to the additions being upheld. Additionally, the Tribunal upheld the disallowance of commission expenses in the movie production company's case due to the lack of justification for such payments. en-us Wed, 03 May 2023 00:00:00 +0530 Fri, 05 May 2023 08:51:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437414 The Tribunal confirmed the Assessing Officer's additions under Section 68 of the Income Tax Act for unexplained cash credits in two cases involving different companies engaged in nursing and movie production, respectively. The Tribunal found that the assessees failed to provide satisfactory explanations for the share capital and share premium received from questionable entities, leading to the additions being upheld. Additionally, the Tribunal upheld the disallowance of commission expenses in the movie production company's case due to the lack of justification for such payments. Case-Laws Income Tax Wed, 03 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437414