https://www.taxtmi.com/caselaws?id=103891 Share application money received by a company cannot, by itself, be assessed as unexplained investment or undisclosed income merely because the identity or genuineness of the share applicants is not established. The Tribunal applied the principle that further material is required to link the amount with the company's own income before an addition can be sustained. It also noted that the call money had been paid on the relevant dates. On that basis, the addition was held unsustainable and deleted, granting relief to the assessee. en-us Mon, 19 Mar 2001 00:00:00 +0530 Fri, 24 Feb 2012 18:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103891 Share application money received by a company cannot, by itself, be assessed as unexplained investment or undisclosed income merely because the identity or genuineness of the share applicants is not established. The Tribunal applied the principle that further material is required to link the amount with the company's own income before an addition can be sustained. It also noted that the call money had been paid on the relevant dates. On that basis, the addition was held unsustainable and deleted, granting relief to the assessee. Case-Laws Income Tax Mon, 19 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103891