https://www.taxtmi.com/caselaws?id=766435 The Appellate Tribunal addressed an appeal concerning the addition of Rs. 3.30 crores under section 68 of the Income Tax Act, 1961. The appellant challenged the addition, arguing it was based on fictitious share capital and share premium entries. The Tribunal found the alleged share subscribers untraceable and the entries false. While expressing disapproval of the appellant's manipulation of financial statements for credit facilities, the Tribunal deleted the Rs. 3.30 crore addition. Other appeal grounds were dismissed due to lack of submissions. The Tribunal partly allowed the appeal, ruling in favor of the appellant regarding the disputed addition. en-us Fri, 21 Feb 2025 00:00:00 +0530 Mon, 24 Feb 2025 14:59:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766435 The Appellate Tribunal addressed an appeal concerning the addition of Rs. 3.30 crores under section 68 of the Income Tax Act, 1961. The appellant challenged the addition, arguing it was based on fictitious share capital and share premium entries. The Tribunal found the alleged share subscribers untraceable and the entries false. While expressing disapproval of the appellant's manipulation of financial statements for credit facilities, the Tribunal deleted the Rs. 3.30 crore addition. Other appeal grounds were dismissed due to lack of submissions. The Tribunal partly allowed the appeal, ruling in favor of the appellant regarding the disputed addition. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766435