https://www.taxtmi.com/caselaws?id=465100 The ITAT Kolkata dismissed the Revenue's appeal, upholding deletion of addition made u/s 68. The assessee had received money from sale of equity share investments held for more than a year, duly reflected in the audited financial statements of the preceding year. The Tribunal held that the impugned receipts were not unsecured loans or share capital/share premium but sale consideration from liquidation of earlier investments, whose source was never disputed. Consequently, section 68 was inapplicable, as no unexplained cash credits arose in the year under appeal. Finding no infirmity in the CIT(A)'s reasoning, the ITAT affirmed the deletion of the entire addition. en-us Thu, 18 Jan 2024 00:00:00 +0530 Fri, 05 Dec 2025 15:18:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465100 The ITAT Kolkata dismissed the Revenue's appeal, upholding deletion of addition made u/s 68. The assessee had received money from sale of equity share investments held for more than a year, duly reflected in the audited financial statements of the preceding year. The Tribunal held that the impugned receipts were not unsecured loans or share capital/share premium but sale consideration from liquidation of earlier investments, whose source was never disputed. Consequently, section 68 was inapplicable, as no unexplained cash credits arose in the year under appeal. Finding no infirmity in the CIT(A)'s reasoning, the ITAT affirmed the deletion of the entire addition. Case-Laws Income Tax Thu, 18 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465100