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2023 (1) TMI 954 - AT - Income TaxUnexplained cash credit as provided in Section 68 - AO who determined the amount of fresh share capital introduced including the premium - HELD THAT:- Since the assessee has placed sufficient documents and materials on record to prove the identity and creditworthiness of the shareholders and the genuineness of the transaction of receiving share capital and share premium, invoking the provisions of Section 68 was not justified in the instant case. We, therefore, reverse the finding of the CIT(A) and delete the addition made u/s 68 of the Act and allow all the grounds raised by the assessee.
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