https://www.taxtmi.com/caselaws?id=313083 ITAT Raipur upheld CIT(Appeals) decision favoring assessee on two issues. For addition u/s 68 regarding unexplained cash credit, tribunal found assessee discharged primary onus by providing documentary evidence proving genuineness of share capital and premium received from registered company through banking channels. AO failed to conduct proper enquiry or provide contrary evidence. Regarding disallowance u/s 14A r.w.r. 8D(2)(iii), tribunal confirmed no disallowance warranted as assessee earned no exempt dividend income during the year. Both additions by AO were properly vacated by CIT(Appeals). en-us Fri, 23 Sep 2022 00:00:00 +0530 Fri, 22 Mar 2024 19:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313083 ITAT Raipur upheld CIT(Appeals) decision favoring assessee on two issues. For addition u/s 68 regarding unexplained cash credit, tribunal found assessee discharged primary onus by providing documentary evidence proving genuineness of share capital and premium received from registered company through banking channels. AO failed to conduct proper enquiry or provide contrary evidence. Regarding disallowance u/s 14A r.w.r. 8D(2)(iii), tribunal confirmed no disallowance warranted as assessee earned no exempt dividend income during the year. Both additions by AO were properly vacated by CIT(Appeals). Case-Laws Income Tax Fri, 23 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313083