https://www.taxtmi.com/caselaws?id=778215 ITAT (Mumbai) held that the assessee proved share application money received through banking channels and reflected in both parties' financials, so additions under section 68 were deleted; the AO's reliance on investigation material not confronted with the assessee was improper. Because the share money was genuine, the section 69C commission addition was also deleted. Disallowance of business-promotion (hotel) expenses was set aside as unjustified. The only upheld point: carry-forward loss claim was denied, confirmed by the tribunal due to late filing of the earlier year return. en-us Thu, 16 Jan 2025 00:00:00 +0530 Fri, 12 Sep 2025 08:45:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778215 ITAT (Mumbai) held that the assessee proved share application money received through banking channels and reflected in both parties' financials, so additions under section 68 were deleted; the AO's reliance on investigation material not confronted with the assessee was improper. Because the share money was genuine, the section 69C commission addition was also deleted. Disallowance of business-promotion (hotel) expenses was set aside as unjustified. The only upheld point: carry-forward loss claim was denied, confirmed by the tribunal due to late filing of the earlier year return. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778215