https://www.taxtmi.com/caselaws?id=758408 The HC upheld the ITAT's deletion of additions related to bogus share application money and commission, finding no substantial question of law. The Assessing Officer's reliance solely on a retracted statement without corroborative evidence was insufficient to justify the additions. The court held that an admission by the assessee, absent supporting evidence, cannot form the basis for assessment. Consequently, the appeal was dismissed, affirming that the issue was factual and resolved by precedent, with no substantial legal question arising. en-us Tue, 03 Sep 2024 00:00:00 +0530 Wed, 13 Aug 2025 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758408 The HC upheld the ITAT's deletion of additions related to bogus share application money and commission, finding no substantial question of law. The Assessing Officer's reliance solely on a retracted statement without corroborative evidence was insufficient to justify the additions. The court held that an admission by the assessee, absent supporting evidence, cannot form the basis for assessment. Consequently, the appeal was dismissed, affirming that the issue was factual and resolved by precedent, with no substantial legal question arising. Case-Laws Income Tax Tue, 03 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758408