https://www.taxtmi.com/caselaws?id=757267 ITAT Delhi dismissed both revenue and assessee appeals regarding section 68 additions for unexplained share premium. The assessee received share premium from various entities but failed to establish identity, creditworthiness of share applicants, and transaction genuineness. CIT(A) deleted protective assessment against the assessee as it was merely a paper company, with substantive addition already made against the principal company. The tribunal upheld CIT(A)'s findings and sustained 2.5% commission addition on transferred amounts due to lack of representation from assessee. en-us Fri, 16 Aug 2024 00:00:00 +0530 Wed, 21 Aug 2024 08:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757267 ITAT Delhi dismissed both revenue and assessee appeals regarding section 68 additions for unexplained share premium. The assessee received share premium from various entities but failed to establish identity, creditworthiness of share applicants, and transaction genuineness. CIT(A) deleted protective assessment against the assessee as it was merely a paper company, with substantive addition already made against the principal company. The tribunal upheld CIT(A)'s findings and sustained 2.5% commission addition on transferred amounts due to lack of representation from assessee. Case-Laws Income Tax Fri, 16 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757267