https://www.taxtmi.com/caselaws?id=759208 The Delhi HC upheld ITAT's decision to delete additions made under Section 68 for unexplained share capital and premium. The court followed its precedent in Principal Commissioner of Income Tax-Central-I v. Surya Agrotech Infrastructure Limited, ruling that income already taxed in the hands of the flagship company cannot be subjected to tax again when applied as share capital in assessee companies. The revenue's appeal was dismissed as no substantial question of law arose from the tribunal's order. en-us Fri, 09 Aug 2024 00:00:00 +0530 Wed, 25 Sep 2024 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759208 The Delhi HC upheld ITAT's decision to delete additions made under Section 68 for unexplained share capital and premium. The court followed its precedent in Principal Commissioner of Income Tax-Central-I v. Surya Agrotech Infrastructure Limited, ruling that income already taxed in the hands of the flagship company cannot be subjected to tax again when applied as share capital in assessee companies. The revenue's appeal was dismissed as no substantial question of law arose from the tribunal's order. Case-Laws Income Tax Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759208