https://www.taxtmi.com/caselaws?id=450423 ITAT Kolkata allowed the appeal regarding unexplained cash credit under section 68 for share capital/premium receipts. The AO made additions based on Investigation Wing report identifying a director as dummy without proper investigation of assessee's evidence or serving summons at correct address. The tribunal found authorities failed to investigate furnished documents and denied cross-examination rights. The addition was deleted as the assessment was based on unsubstantiated reports rather than proper verification of banking channel transactions and supporting documents provided by the assessee. en-us Thu, 29 Feb 2024 00:00:00 +0530 Mon, 04 Mar 2024 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450423 ITAT Kolkata allowed the appeal regarding unexplained cash credit under section 68 for share capital/premium receipts. The AO made additions based on Investigation Wing report identifying a director as dummy without proper investigation of assessee's evidence or serving summons at correct address. The tribunal found authorities failed to investigate furnished documents and denied cross-examination rights. The addition was deleted as the assessment was based on unsubstantiated reports rather than proper verification of banking channel transactions and supporting documents provided by the assessee. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450423