Entry-Provider Tag Not Enough Reason: ITAT Upholds Deletion of Unexplained Share Capital Addition

ITO Vs Livros Publishing Pvt. Ltd. (ITAT Delhi) ITAT Delhi upholds deletion of ₹4 Cr addition u/s 68 – Share application money received through banking channel cannot be treated as unexplained merely on investigation report – Entry-provider tag can’t replace evidence Revenue filed appeal against the order of CIT(A), Meerut dated 28.08.2020 deleting addition of ₹4,00,00,000 made by AO u/s 68 on account of share capital & premium received from M/s Apoorva Leasing Finance & Investment Co. Ltd., alleged to be part of Jain brothers’ accommodation entry group. Assessee, engag...