https://www.taxtmi.com/caselaws?id=460380 ITAT Kolkata held that the AO failed to establish that the holding company could not explain the three ingredients of its share capital. The assessee's common director appeared before the AO, who identified no specific discrepancies in filed details. The assessee had not received the entire share application money in the relevant financial year. CIT(A) correctly deleted the unexplained cash credit addition regarding share application/premium money from the holding company, supported by detailed evidence on record. Appeal decided against revenue. en-us Fri, 03 May 2019 00:00:00 +0530 Tue, 21 Jan 2025 19:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460380 ITAT Kolkata held that the AO failed to establish that the holding company could not explain the three ingredients of its share capital. The assessee's common director appeared before the AO, who identified no specific discrepancies in filed details. The assessee had not received the entire share application money in the relevant financial year. CIT(A) correctly deleted the unexplained cash credit addition regarding share application/premium money from the holding company, supported by detailed evidence on record. Appeal decided against revenue. Case-Laws Income Tax Fri, 03 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460380