https://www.taxtmi.com/caselaws?id=442997 The HC ruled in favor of the revenue authority, overturning the ITAT's decision to delete the Rs. 45 crores addition under Section 68 of the Income Tax Act, 1961. The HC found the Tribunal's interpretation flawed, emphasizing the lack of inquiry into the investor companies' financial status and questioning the transaction's genuineness and creditworthiness. en-us Wed, 23 Aug 2023 00:00:00 +0530 Fri, 03 May 2024 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442997 The HC ruled in favor of the revenue authority, overturning the ITAT's decision to delete the Rs. 45 crores addition under Section 68 of the Income Tax Act, 1961. The HC found the Tribunal's interpretation flawed, emphasizing the lack of inquiry into the investor companies' financial status and questioning the transaction's genuineness and creditworthiness. Case-Laws Income Tax Wed, 23 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442997