https://www.taxtmi.com/caselaws?id=250655 HC upheld the Tribunal and CIT(A) in deleting the addition made u/s 68 towards share application money and share premium. The assessee had received investments from four limited companies, and enquiries confirmed that all four investor companies admitted making the investments. Relying on SC precedent, HC held that the assessee had satisfactorily established the nature and source of the credits and discharged the onus under s.68. Since the investors were identified and the source of funds was explained, the sums could not be treated as undisclosed income. The appeal was decided against Revenue. en-us Tue, 12 Aug 2014 00:00:00 +0530 Thu, 20 Nov 2025 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250655 HC upheld the Tribunal and CIT(A) in deleting the addition made u/s 68 towards share application money and share premium. The assessee had received investments from four limited companies, and enquiries confirmed that all four investor companies admitted making the investments. Relying on SC precedent, HC held that the assessee had satisfactorily established the nature and source of the credits and discharged the onus under s.68. Since the investors were identified and the source of funds was explained, the sums could not be treated as undisclosed income. The appeal was decided against Revenue. Case-Laws Income Tax Tue, 12 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250655