https://www.taxtmi.com/caselaws?id=770356 The HC dismissed the revenue's appeal challenging the Tribunal's decision to delete additions made under Section 68 for alleged bogus share capital and premium. Despite the AO's remand report stating that share applicant companies lacked creditworthiness, the CIT(A) and Tribunal found the assessee company demonstrated strong financial performance with inventories of Rs. 8.38 crores (2011) and Rs. 9.36 crores (2012), profits growing three times between assessment years 2011-12 and 2012-13, and earnings per share increasing from 2.5 times to 16%. The Tribunal examined extensive documentation spanning 1029 pages and concluded the CIT(A) was justified in deleting the Section 68 addition. The HC found no substantial question of law arising for consideration. en-us Tue, 06 May 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770356 The HC dismissed the revenue's appeal challenging the Tribunal's decision to delete additions made under Section 68 for alleged bogus share capital and premium. Despite the AO's remand report stating that share applicant companies lacked creditworthiness, the CIT(A) and Tribunal found the assessee company demonstrated strong financial performance with inventories of Rs. 8.38 crores (2011) and Rs. 9.36 crores (2012), profits growing three times between assessment years 2011-12 and 2012-13, and earnings per share increasing from 2.5 times to 16%. The Tribunal examined extensive documentation spanning 1029 pages and concluded the CIT(A) was justified in deleting the Section 68 addition. The HC found no substantial question of law arising for consideration. Case-Laws Income Tax Tue, 06 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770356