https://www.taxtmi.com/caselaws?id=771376 The Revenue's appeal was dismissed by ITAT Kolkata. The case involved addition of fresh capital introduction where the assessing officer questioned unjustified receipt of high fresh capital for an unprospective firm without examining creditworthiness. CIT(A) deleted the addition. ITAT upheld CIT(A)'s decision, finding that capital introductions were made through banking channels from money borrowed from LIC Housing Finance Co. Ltd. Since the source of money was established and undisputed, the tribunal confirmed the deletion of addition, dismissing the Revenue's appeal. en-us Wed, 14 May 2025 00:00:00 +0530 Sat, 24 May 2025 09:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771376 The Revenue's appeal was dismissed by ITAT Kolkata. The case involved addition of fresh capital introduction where the assessing officer questioned unjustified receipt of high fresh capital for an unprospective firm without examining creditworthiness. CIT(A) deleted the addition. ITAT upheld CIT(A)'s decision, finding that capital introductions were made through banking channels from money borrowed from LIC Housing Finance Co. Ltd. Since the source of money was established and undisputed, the tribunal confirmed the deletion of addition, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771376