https://www.taxtmi.com/caselaws?id=78816 The case involved the addition of Rs. 36,00,000/- as undisclosed income by the Assessing Officer, who deemed the investment to be the company's own income from undisclosed sources. The assessee argued that investments were made through account payee cheques and all necessary details were provided, leading to the dismissal of the appeal by the Revenue. The Income Tax Appellate Tribunal confirmed the investors' capacity to pay and the source of investment, finding no need for interference. Citing a previous decision, the Court held that in cases of public companies issuing shares, the source of investors' money need not be probed, ultimately dismissing the appeal. en-us Fri, 20 Aug 2010 00:00:00 +0530 Sun, 19 Dec 2010 22:35:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78816 The case involved the addition of Rs. 36,00,000/- as undisclosed income by the Assessing Officer, who deemed the investment to be the company's own income from undisclosed sources. The assessee argued that investments were made through account payee cheques and all necessary details were provided, leading to the dismissal of the appeal by the Revenue. The Income Tax Appellate Tribunal confirmed the investors' capacity to pay and the source of investment, finding no need for interference. Citing a previous decision, the Court held that in cases of public companies issuing shares, the source of investors' money need not be probed, ultimately dismissing the appeal. Case-Laws Income Tax Fri, 20 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78816