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2020 (12) TMI 984 - AT - Income TaxUnexplained cash credit u/s. 68 - HELD THAT:- Assessee has filed all the necessary documents as required for substantiating its claim u/s. 68 - Assessee has discharged its initial onus which lay upon it by proving the identity and capacity of the share applicants and the genuineness of the transactions. It cannot be said that such a conclusion was unreasonable or perverse or passed on no evidence. Ld. CIT(A) has also relied upon the decision of the Hon’ble Supreme Court of India in the case of CIT vs. Orissa Corporation Pvt. Ltd. [1986 (3) TMI 3 - SUPREME COURT]. CIT(A) has deleted the addition in dispute, therefore, we are of the view that no interference is called for in the well reasoned order passed in the case of the assessee, accordingly the same is upheld and the appeal filed by the Revenue is dismissed.
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