https://www.taxtmi.com/caselaws?id=309350 The ITAT remanded the case to the AO for fresh inquiry and a speaking order after finding the CIT(A)'s decision lacking strength. The dispute arose from the deletion of an addition of Rs.3,00,00,000 made by the AO under section 68 of the I.T. Act, 1961, due to alleged undisclosed income introduced as share capital/share premium. The AO contended that the assessee failed to establish the identity and creditworthiness of the parties involved, leading to the addition being made. en-us Wed, 01 Mar 2023 00:00:00 +0530 Sat, 26 Aug 2023 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309350 The ITAT remanded the case to the AO for fresh inquiry and a speaking order after finding the CIT(A)'s decision lacking strength. The dispute arose from the deletion of an addition of Rs.3,00,00,000 made by the AO under section 68 of the I.T. Act, 1961, due to alleged undisclosed income introduced as share capital/share premium. The AO contended that the assessee failed to establish the identity and creditworthiness of the parties involved, leading to the addition being made. Case-Laws Income Tax Wed, 01 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309350