https://www.taxtmi.com/caselaws?id=776642 The ITAT Delhi upheld the CIT(A)'s deletion of an addition of Rs. 3,70,540/- related to share capital subscription, finding the assessee had sufficiently proven the genuineness of the transaction. Regarding section 40A(3) disallowance, the CIT(A) confirmed a Rs. 10,000/- disallowance for staff welfare expenses due to lack of evidence, while granting relief of Rs. 5,49,318/- on payments to related parties. Additions concerning unsecured loans were deleted as these represented reclassification of dividend payable to loans from shareholders, with no fresh credits introduced. The tribunal found no infirmity in the CIT(A)'s orders and dismissed the Revenue's appeal in its entirety. en-us Fri, 25 Jul 2025 00:00:00 +0530 Thu, 14 Aug 2025 08:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776642 The ITAT Delhi upheld the CIT(A)'s deletion of an addition of Rs. 3,70,540/- related to share capital subscription, finding the assessee had sufficiently proven the genuineness of the transaction. Regarding section 40A(3) disallowance, the CIT(A) confirmed a Rs. 10,000/- disallowance for staff welfare expenses due to lack of evidence, while granting relief of Rs. 5,49,318/- on payments to related parties. Additions concerning unsecured loans were deleted as these represented reclassification of dividend payable to loans from shareholders, with no fresh credits introduced. The tribunal found no infirmity in the CIT(A)'s orders and dismissed the Revenue's appeal in its entirety. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776642