https://www.taxtmi.com/caselaws?id=443359 The Revenue challenged the deletion of an addition of Rs. 3,08,52,900 under section 68 of the Income Tax Act, 1961, related to share capital received from a holding company. The Commissioner of Income Tax (Appeals) allowed the Assessee's appeal, finding that the Assessee had provided sufficient evidence to establish the legitimacy of the transaction with the investor company. Consequently, the addition made by the Assessing Officer was deemed unsustainable and was deleted. en-us Wed, 20 Sep 2023 00:00:00 +0530 Thu, 21 Sep 2023 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443359 The Revenue challenged the deletion of an addition of Rs. 3,08,52,900 under section 68 of the Income Tax Act, 1961, related to share capital received from a holding company. The Commissioner of Income Tax (Appeals) allowed the Assessee's appeal, finding that the Assessee had provided sufficient evidence to establish the legitimacy of the transaction with the investor company. Consequently, the addition made by the Assessing Officer was deemed unsustainable and was deleted. Case-Laws Income Tax Wed, 20 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443359