https://www.taxtmi.com/caselaws?id=205387 HC held that the assessee had satisfactorily proved the genuineness of share transactions and discharged the onus regarding identity and creditworthiness of the counterparty. The assessee produced copies of accounts, bills, contract notes from the broker, and maintained regular books of account and balance sheets reflecting purchase and sale of shares over time. The HC found that the Assessing Officer merely relied on Investigation Wing information without independently verifying the assessee's evidence. Holding that the assessee furnished the best possible evidence, the HC ruled the addition unsustainable and dismissed the revenue's appeal. en-us Mon, 09 Aug 2010 00:00:00 +0530 Wed, 19 Nov 2025 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205387 HC held that the assessee had satisfactorily proved the genuineness of share transactions and discharged the onus regarding identity and creditworthiness of the counterparty. The assessee produced copies of accounts, bills, contract notes from the broker, and maintained regular books of account and balance sheets reflecting purchase and sale of shares over time. The HC found that the Assessing Officer merely relied on Investigation Wing information without independently verifying the assessee's evidence. Holding that the assessee furnished the best possible evidence, the HC ruled the addition unsustainable and dismissed the revenue's appeal. Case-Laws Income Tax Mon, 09 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205387