Whether in the facts and circumstances of the case, the ITAT was right in law in upholding the order of CIT(A) who deleted the addition of Rs. 92,95,000/- under section 68 of the IT Act made by the AO on account of unexplained share application money.
Section 68 of the Income-tax Act, 1961—Cash credit—Additions made under section 68 deleted as assessee has been able to sufficiently explain, to the satisfaction of the CIT(A), of the identity, genuineness and creditworthiness of the creditors. - PR. CIT V/s A.I. DEVELOPERS (P.) LTD. - [2018] 2 ITCD Online 125 (DEL)
Whether in the facts and circumstances of the case, the ITAT was right in law in upholding the order of CIT(A) who deleted the addition of Rs. 92,95,000/- under section 68 of the IT Act made by the AO on account of unexplained share application money.
Section 68 of the Income-tax Act, 1961—Cash credit—Additions made under section 68 deleted as assessee has been able to sufficiently explain, to the satisfaction of the CIT(A), of the identity, genuineness and creditworthiness of the creditors. - PR. CIT V/s A.I. DEVELOPERS (P.) LTD. - [2018] 2 ITCD Online 125 (DEL)