https://www.taxtmi.com/caselaws?id=460907 The ITAT Delhi upheld the CIT(A)'s decision to delete additions made under Section 68 for unexplained cash credits relating to share capital, premium, and unsecured loans. The tribunal found that since real beneficiaries who availed accommodation entries were identified and substantive additions were made against them, protective additions against the assessee could not survive. Following precedents in similar cases involving companies allegedly managed by the same group, the tribunal dismissed the revenue's appeal, confirming deletion of the additions. en-us Wed, 08 Jan 2025 00:00:00 +0530 Fri, 28 Feb 2025 21:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460907 The ITAT Delhi upheld the CIT(A)'s decision to delete additions made under Section 68 for unexplained cash credits relating to share capital, premium, and unsecured loans. The tribunal found that since real beneficiaries who availed accommodation entries were identified and substantive additions were made against them, protective additions against the assessee could not survive. Following precedents in similar cases involving companies allegedly managed by the same group, the tribunal dismissed the revenue's appeal, confirming deletion of the additions. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460907