https://www.taxtmi.com/caselaws?id=203061 Share application money received at premium was not taxable under section 68 where the assessee produced material showing the applicants' identity, creditworthiness and genuineness, including PAN and income-tax assessment particulars. The Tribunal found that the lower appellate authority had sufficient evidence on record and that the Revenue brought no contrary material to show that the share capital represented undisclosed income. The addition was therefore deleted and the Revenue's challenge failed, consistent with earlier Tribunal and higher court authorities relied upon. en-us Mon, 14 Sep 2009 00:00:00 +0530 Tue, 03 May 2011 08:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203061 Share application money received at premium was not taxable under section 68 where the assessee produced material showing the applicants' identity, creditworthiness and genuineness, including PAN and income-tax assessment particulars. The Tribunal found that the lower appellate authority had sufficient evidence on record and that the Revenue brought no contrary material to show that the share capital represented undisclosed income. The addition was therefore deleted and the Revenue's challenge failed, consistent with earlier Tribunal and higher court authorities relied upon. Case-Laws Income Tax Mon, 14 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203061