https://www.taxtmi.com/caselaws?id=438589 The Tribunal dismissed the Revenue's appeals, affirming that the addition of Rs. 6,21,00,000/- under Section 69 read with Section 115BBE was not justified. The Tribunal found that the Revenue's contentions were based on assumptions and lacked tangible evidence, noting that the transaction for the transfer of shares occurred in subsequent years with due taxes paid. The Tribunal allowed the assessee's cross-objections for procedural compliance on charging interest under Section 234B. en-us Thu, 08 Dec 2022 00:00:00 +0530 Fri, 02 Jun 2023 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438589 The Tribunal dismissed the Revenue's appeals, affirming that the addition of Rs. 6,21,00,000/- under Section 69 read with Section 115BBE was not justified. The Tribunal found that the Revenue's contentions were based on assumptions and lacked tangible evidence, noting that the transaction for the transfer of shares occurred in subsequent years with due taxes paid. The Tribunal allowed the assessee's cross-objections for procedural compliance on charging interest under Section 234B. Case-Laws Income Tax Thu, 08 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438589