ITAT Delhi Upholds Deletion of Share Capital Addition: Section 68 Onus Discharged

ACIT Vs AL-Arsh Exports Pvt Ltd. (ITAT Delhi) ITAT Delhi Upholds Deletion of ₹15 Crore Share Capital Addition: Section 68 Onus Discharged The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue’s appeal and upheld the deletion of ₹15 crore added under section 68 on account of alleged unexplained share application money received by the assessee company in AY 2014-15. The Tribunal noted that the assessee had fully discharged the onus under section 68 by furnishing confirmations, income-tax returns, bank statements, and source-of-source details of all 23 investor c...