https://www.taxtmi.com/caselaws?id=460749 The Appellate Tribunal of the Calcutta HC dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision granting relief to the respondent assessee. The case involved an addition of Rs. 17,61,40,800 under section 68 of the Income Tax Act, 1961. The Tribunal upheld the CIT[A]'s order, which deleted the addition due to the failure to establish the identity, genuineness, and creditworthiness of the share subscribers. The Court found no substantial question of law for consideration, affirming the Tribunal's decision and dismissing the appeal. en-us Mon, 15 May 2023 00:00:00 +0530 Sat, 15 Feb 2025 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460749 The Appellate Tribunal of the Calcutta HC dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision granting relief to the respondent assessee. The case involved an addition of Rs. 17,61,40,800 under section 68 of the Income Tax Act, 1961. The Tribunal upheld the CIT[A]'s order, which deleted the addition due to the failure to establish the identity, genuineness, and creditworthiness of the share subscribers. The Court found no substantial question of law for consideration, affirming the Tribunal's decision and dismissing the appeal. Case-Laws Income Tax Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460749