https://www.taxtmi.com/caselaws?id=442916 The appeal was allowed by the Tribunal, setting aside the Ld. CIT(A)'s order confirming the addition of Rs. 2,24,28,434/- as unexplained share capital/share premium under section 68 of the Act. Despite non-compliance with summons, both the assessee and share subscribers provided sufficient evidence of identity and creditworthiness. The Tribunal emphasized the need for a thorough examination of all evidence before making additions, leading to the deletion of the contested amount. en-us Tue, 01 Aug 2023 00:00:00 +0530 Wed, 13 Sep 2023 09:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442916 The appeal was allowed by the Tribunal, setting aside the Ld. CIT(A)'s order confirming the addition of Rs. 2,24,28,434/- as unexplained share capital/share premium under section 68 of the Act. Despite non-compliance with summons, both the assessee and share subscribers provided sufficient evidence of identity and creditworthiness. The Tribunal emphasized the need for a thorough examination of all evidence before making additions, leading to the deletion of the contested amount. Case-Laws Income Tax Tue, 01 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442916