https://www.taxtmi.com/caselaws?id=770256 The SC upheld the Tribunal's decision, rejecting the revenue's appeal regarding unexplained share capital. The court found no violation of Rule 46-A and confirmed that conversion of liability into share capital without cash involvement does not constitute unexplained credits. The Tribunal's deletion of the Rs. 3,98,44,628/- addition was deemed legally justified based on established precedents and factual evidence. en-us Mon, 05 May 2025 00:00:00 +0530 Thu, 08 May 2025 09:13:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770256 The SC upheld the Tribunal's decision, rejecting the revenue's appeal regarding unexplained share capital. The court found no violation of Rule 46-A and confirmed that conversion of liability into share capital without cash involvement does not constitute unexplained credits. The Tribunal's deletion of the Rs. 3,98,44,628/- addition was deemed legally justified based on established precedents and factual evidence. Case-Laws Income Tax Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770256