https://www.taxtmi.com/caselaws?id=759203 ITAT Nagpur dismissed Revenue's appeal against deletion of addition under section 68. Assessee successfully proved identity, genuineness and creditworthiness of share applicant companies through necessary documents. AO's addition of share application money as bogus income was held erroneous. CIT(A)'s deletion of addition was upheld as assessee demonstrated legitimate nature of share capital received from applicant companies. en-us Mon, 02 Sep 2024 00:00:00 +0530 Thu, 26 Sep 2024 08:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759203 ITAT Nagpur dismissed Revenue's appeal against deletion of addition under section 68. Assessee successfully proved identity, genuineness and creditworthiness of share applicant companies through necessary documents. AO's addition of share application money as bogus income was held erroneous. CIT(A)'s deletion of addition was upheld as assessee demonstrated legitimate nature of share capital received from applicant companies. Case-Laws Income Tax Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759203