https://www.taxtmi.com/caselaws?id=213103 Where the assessee proved the identity and creditworthiness of the investing company, the source of funds through bank transactions, the issue of share certificates, and the genuineness of the share application money and loan credits, addition under section 68 was not justified. A document relied on by the Revenue was treated only as a letter because it lacked sworn verification and was not supported by cross-examination, so it had limited evidentiary value. The appellate findings were based on appreciation of evidence and were not shown to be perverse or illegal, so no substantial question of law arose for interference. en-us Thu, 05 Apr 2012 00:00:00 +0530 Wed, 09 May 2012 09:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213103 Where the assessee proved the identity and creditworthiness of the investing company, the source of funds through bank transactions, the issue of share certificates, and the genuineness of the share application money and loan credits, addition under section 68 was not justified. A document relied on by the Revenue was treated only as a letter because it lacked sworn verification and was not supported by cross-examination, so it had limited evidentiary value. The appellate findings were based on appreciation of evidence and were not shown to be perverse or illegal, so no substantial question of law arose for interference. Case-Laws Income Tax Thu, 05 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213103