https://www.taxtmi.com/caselaws?id=459725 ITAT Mumbai partially allowed assessee's appeal regarding unexplained share investments. The tribunal deleted additions based on custodian letters and company letters not provided to assessee, and remanded shareholding determination to AO for fresh adjudication. Additions for Brooke Bond Lipton, Gujarat Ambuja Cements, and Kilburn Reprographics shareholding differences were deleted as assessee proved actual holdings through dividend receipts. However, additions for Nicholas Laboratories and Trans Freight India shareholding were upheld due to lack of supporting evidence. The tribunal allowed interest deduction under section 57 against dividend income, following Supreme Court precedent in Seth R. Dalmia case. en-us Thu, 26 Oct 2023 00:00:00 +0530 Tue, 24 Dec 2024 20:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459725 ITAT Mumbai partially allowed assessee's appeal regarding unexplained share investments. The tribunal deleted additions based on custodian letters and company letters not provided to assessee, and remanded shareholding determination to AO for fresh adjudication. Additions for Brooke Bond Lipton, Gujarat Ambuja Cements, and Kilburn Reprographics shareholding differences were deleted as assessee proved actual holdings through dividend receipts. However, additions for Nicholas Laboratories and Trans Freight India shareholding were upheld due to lack of supporting evidence. The tribunal allowed interest deduction under section 57 against dividend income, following Supreme Court precedent in Seth R. Dalmia case. Case-Laws Income Tax Thu, 26 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459725