https://www.taxtmi.com/caselaws?id=768076 The ITAT Delhi dismissed the revenue's appeal challenging deletion of addition under section 68 for unexplained cash credits in share application money. The CIT(A) had deleted the addition after finding that the assessee company furnished all necessary documents proving genuineness of transactions and creditworthiness of investor companies. The ITAT relied on SC precedent in Lovely Exports, noting that share applicants were engaged in proper commercial transactions and were not bogus or sham investors. The tribunal found no grounds to interfere with CIT(A)'s findings. en-us Thu, 27 Mar 2025 00:00:00 +0530 Mon, 31 Mar 2025 08:41:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768076 The ITAT Delhi dismissed the revenue's appeal challenging deletion of addition under section 68 for unexplained cash credits in share application money. The CIT(A) had deleted the addition after finding that the assessee company furnished all necessary documents proving genuineness of transactions and creditworthiness of investor companies. The ITAT relied on SC precedent in Lovely Exports, noting that share applicants were engaged in proper commercial transactions and were not bogus or sham investors. The tribunal found no grounds to interfere with CIT(A)'s findings. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768076