https://www.taxtmi.com/caselaws?id=151498 The Tribunal upheld the validity of the notice served directly to the company under section 143(2) of the Income-tax Act. Regarding the addition of Rs. 1,50,00,000 under section 68 for share capital received, the Tribunal affirmed the Assessing Officer's decision due to the failure to prove the identity and genuineness of the shareholders. Despite providing documentation, the inability to produce the shareholders led to the conclusion that the transactions were not genuine, resulting in the upheld addition under section 68. en-us Thu, 31 Dec 2009 00:00:00 +0530 Mon, 18 Sep 2023 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151498 The Tribunal upheld the validity of the notice served directly to the company under section 143(2) of the Income-tax Act. Regarding the addition of Rs. 1,50,00,000 under section 68 for share capital received, the Tribunal affirmed the Assessing Officer's decision due to the failure to prove the identity and genuineness of the shareholders. Despite providing documentation, the inability to produce the shareholders led to the conclusion that the transactions were not genuine, resulting in the upheld addition under section 68. Case-Laws Income Tax Thu, 31 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151498