https://www.taxtmi.com/caselaws?id=440281 The Tribunal allowed the appeal, ruling in favor of the assessee and directing the deletion of the addition of Rs. 85 lakhs on account of Unsecured Loans treated as share application money. The assessee successfully proved the identity, capacity, and creditworthiness of the creditors through documentary evidence, demonstrating the genuineness of the transactions. The Tribunal found no justification for the addition made by the Assessing Officer and upheld by the CIT(A), ultimately overturning the decision and ordering the deletion of the disputed amount. en-us Fri, 09 Jun 2023 00:00:00 +0530 Fri, 14 Jul 2023 08:15:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440281 The Tribunal allowed the appeal, ruling in favor of the assessee and directing the deletion of the addition of Rs. 85 lakhs on account of Unsecured Loans treated as share application money. The assessee successfully proved the identity, capacity, and creditworthiness of the creditors through documentary evidence, demonstrating the genuineness of the transactions. The Tribunal found no justification for the addition made by the Assessing Officer and upheld by the CIT(A), ultimately overturning the decision and ordering the deletion of the disputed amount. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440281