https://www.taxtmi.com/caselaws?id=439151 The Tribunal ruled in favor of the assessee in a tax dispute involving unexplained share premium under Section 68 of the Income Tax Act, 1961, and transfer pricing adjustments. The Tribunal held that the assessee adequately proved the source of funds for the share premium, leading to the deletion of the addition made under Section 68. Additionally, the Tribunal found that the transfer pricing adjustment was invalid as the Assessing Officer exceeded jurisdiction without proper approval, resulting in the appeal being decided in favor of the assessee, setting aside the final assessment order. en-us Wed, 14 Jun 2023 00:00:00 +0530 Sat, 17 Jun 2023 08:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439151 The Tribunal ruled in favor of the assessee in a tax dispute involving unexplained share premium under Section 68 of the Income Tax Act, 1961, and transfer pricing adjustments. The Tribunal held that the assessee adequately proved the source of funds for the share premium, leading to the deletion of the addition made under Section 68. Additionally, the Tribunal found that the transfer pricing adjustment was invalid as the Assessing Officer exceeded jurisdiction without proper approval, resulting in the appeal being decided in favor of the assessee, setting aside the final assessment order. Case-Laws Income Tax Wed, 14 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439151