https://www.taxtmi.com/caselaws?id=774172 The Tribunal dismissed the Revenue's appeal challenging the deletion of addition under Section 68 of the Income Tax Act. The AO had added Rs. 3,45,30,000/- questioning the genuineness of share capital investments from four shareholders. The Assessee successfully discharged its burden by providing comprehensive documentary evidence including shareholder confirmations, bank statements, ITRs, and audited financials. The shareholders appeared before the AO and confirmed their investments made through account payee cheques. The Tribunal held that the Assessee need only prove the immediate source of credited amounts, not the "source of source." The CIT(A)'s deletion of the addition was upheld as the Revenue failed to demonstrate any infirmity in the findings or produce contrary evidence. en-us Wed, 04 Jun 2025 00:00:00 +0530 Thu, 03 Jul 2025 11:07:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774172 The Tribunal dismissed the Revenue's appeal challenging the deletion of addition under Section 68 of the Income Tax Act. The AO had added Rs. 3,45,30,000/- questioning the genuineness of share capital investments from four shareholders. The Assessee successfully discharged its burden by providing comprehensive documentary evidence including shareholder confirmations, bank statements, ITRs, and audited financials. The shareholders appeared before the AO and confirmed their investments made through account payee cheques. The Tribunal held that the Assessee need only prove the immediate source of credited amounts, not the "source of source." The CIT(A)'s deletion of the addition was upheld as the Revenue failed to demonstrate any infirmity in the findings or produce contrary evidence. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774172