https://www.taxtmi.com/caselaws?id=220132 HC set aside ITAT's deletion of addition under s. 68, holding that the assessee failed to discharge the onus of proving identity, creditworthiness, and genuineness of share capital transactions. The Tribunal's reliance on submitted documents without deeper scrutiny was deemed insufficient, as it did not adequately examine the assessment proceedings or surrounding circumstances. The investigation report suggesting possible accommodation entries was not conclusively rebutted. The HC found that the Tribunal's approach was mechanical and lacked proper appraisal of facts, thus ruling in favor of the revenue and allowing reopening of assessment. en-us Mon, 07 Jan 2013 00:00:00 +0530 Tue, 05 Aug 2025 17:15:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220132 HC set aside ITAT's deletion of addition under s. 68, holding that the assessee failed to discharge the onus of proving identity, creditworthiness, and genuineness of share capital transactions. The Tribunal's reliance on submitted documents without deeper scrutiny was deemed insufficient, as it did not adequately examine the assessment proceedings or surrounding circumstances. The investigation report suggesting possible accommodation entries was not conclusively rebutted. The HC found that the Tribunal's approach was mechanical and lacked proper appraisal of facts, thus ruling in favor of the revenue and allowing reopening of assessment. Case-Laws Income Tax Mon, 07 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220132