https://www.taxtmi.com/caselaws?id=461852 ITAT Delhi allowed the appeal for statistical purposes and remitted the matter back to AO for fresh verification. The case involved addition under section 68 regarding bogus share capital where assessee claimed money was routed within group/associate companies. ITAT found assessee provided complete trail of transactions through bank statements showing money circulation within group entities without any cash deposits or unaccounted funds. The tribunal noted AO failed to examine assessee's contentions and evidence before making arbitrary additions. CIT(A) mechanically confirmed the addition without considering facts. ITAT directed AO to conduct proper verification of money trail and make fresh assessment order after giving reasonable opportunity to assessee. en-us Thu, 28 Feb 2019 00:00:00 +0530 Thu, 01 May 2025 14:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461852 ITAT Delhi allowed the appeal for statistical purposes and remitted the matter back to AO for fresh verification. The case involved addition under section 68 regarding bogus share capital where assessee claimed money was routed within group/associate companies. ITAT found assessee provided complete trail of transactions through bank statements showing money circulation within group entities without any cash deposits or unaccounted funds. The tribunal noted AO failed to examine assessee's contentions and evidence before making arbitrary additions. CIT(A) mechanically confirmed the addition without considering facts. ITAT directed AO to conduct proper verification of money trail and make fresh assessment order after giving reasonable opportunity to assessee. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461852