https://www.taxtmi.com/caselaws?id=257474 Unexplained credits reported as share application monies raised issues of identity and genuineness of share applicants and the creditworthiness of transactions. The court found that the assessing officer should have pursued effective inquiry, including verifying thirdparty identity and investigating alleged uniform cashdeposit patterns, and that appellate authorities could not simply accept limited proof of identity or banking channel evidence without ensuring further inquiry. Consequently, the appellate tribunals' conclusion that genuineness and creditworthiness were established was not sustainable and the matter required detailed scrutiny or remand for further verification. en-us Wed, 11 Mar 2015 00:00:00 +0530 Fri, 06 Feb 2026 14:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257474 Unexplained credits reported as share application monies raised issues of identity and genuineness of share applicants and the creditworthiness of transactions. The court found that the assessing officer should have pursued effective inquiry, including verifying thirdparty identity and investigating alleged uniform cashdeposit patterns, and that appellate authorities could not simply accept limited proof of identity or banking channel evidence without ensuring further inquiry. Consequently, the appellate tribunals' conclusion that genuineness and creditworthiness were established was not sustainable and the matter required detailed scrutiny or remand for further verification. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257474