https://www.taxtmi.com/caselaws?id=458291 ITAT Kolkata allowed the appeal, deleting additions made under Section 68 for unexplained cash credits and differential stamp duty value. Regarding share capital transactions, the tribunal found 11 shareholders' identity and creditworthiness established with confirmed transactions. For remaining investors including a HUF with Rs. 13.68 lakh income, documentation including cash books, bank statements, and ITRs adequately proved genuine investment from own sources. On property sale, since assessee claimed distress sale below market value and requested departmental valuation which AO refused, no justification existed for addition based on stamp duty differential. en-us Fri, 11 Aug 2023 00:00:00 +0530 Fri, 18 Oct 2024 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458291 ITAT Kolkata allowed the appeal, deleting additions made under Section 68 for unexplained cash credits and differential stamp duty value. Regarding share capital transactions, the tribunal found 11 shareholders' identity and creditworthiness established with confirmed transactions. For remaining investors including a HUF with Rs. 13.68 lakh income, documentation including cash books, bank statements, and ITRs adequately proved genuine investment from own sources. On property sale, since assessee claimed distress sale below market value and requested departmental valuation which AO refused, no justification existed for addition based on stamp duty differential. Case-Laws Income Tax Fri, 11 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458291