https://www.taxtmi.com/highlights?id=78247 The ITAT ruled on the addition u/s 68 of share capital/premium from three dummy entities related to RPS Group. The addition was substantive for RPS Group and protective for the assessee, a group company. The Tribunal considered assessment orders of the entities investing in the assessee, finding their sources acceptable. The Tribunal held that the assessee met the burden u/s 68, as the investing entities' assessments were accepted, supporting the legitimacy of the investments. The decision favored the assessee, upholding the CIT(A)'s findings. en-us Fri, 07 Jun 2024 08:13:27 +0530 Fri, 07 Jun 2024 08:13:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78247 The ITAT ruled on the addition u/s 68 of share capital/premium from three dummy entities related to RPS Group. The addition was substantive for RPS Group and protective for the assessee, a group company. The Tribunal considered assessment orders of the entities investing in the assessee, finding their sources acceptable. The Tribunal held that the assessee met the burden u/s 68, as the investing entities' assessments were accepted, supporting the legitimacy of the investments. The decision favored the assessee, upholding the CIT(A)'s findings. Highlights Income Tax Fri, 07 Jun 2024 08:13:27 +0530 https://www.taxtmi.com/highlights?id=78247