https://www.taxtmi.com/caselaws?id=76018 HC dismissed the appeal, holding that the assessee met the burden to establish identity and creditworthiness of applicant companies and genuineness of share allotment. Copies of share applications and allotment were on record, there was no allegation of forgery, and the Assessing Officer made no attempt to summon company directors for verification. Failure to produce directors did not justify additions where documentary evidence existed and could have prompted summons. CIT(A) and ITAT were upheld; no substantial question of law arose. en-us Wed, 12 May 2010 00:00:00 +0530 Fri, 29 Aug 2025 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76018 HC dismissed the appeal, holding that the assessee met the burden to establish identity and creditworthiness of applicant companies and genuineness of share allotment. Copies of share applications and allotment were on record, there was no allegation of forgery, and the Assessing Officer made no attempt to summon company directors for verification. Failure to produce directors did not justify additions where documentary evidence existed and could have prompted summons. CIT(A) and ITAT were upheld; no substantial question of law arose. Case-Laws Income Tax Wed, 12 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76018