https://www.taxtmi.com/caselaws?id=260238 Section 68 additions for share application money were found unsustainable where the assessee produced confirmations and supporting documents showing the identity of the subscribers, the genuineness of the transactions and the creditworthiness of the investors; the Tribunal applied the settled principle that the assessee need not prove the source of the source. The Revenue's reliance on investigation material and adverse inference, without independent positive evidence linking the credits to undisclosed income, was insufficient, so the deletion of the additions was upheld. A commission addition alleged to have been paid for obtaining an accommodation entry also failed because it depended on the same unsupported premise and no material showed routing of the assessee's unaccounted money through the entry. en-us Wed, 01 Apr 2015 00:00:00 +0530 Tue, 18 Aug 2015 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260238 Section 68 additions for share application money were found unsustainable where the assessee produced confirmations and supporting documents showing the identity of the subscribers, the genuineness of the transactions and the creditworthiness of the investors; the Tribunal applied the settled principle that the assessee need not prove the source of the source. The Revenue's reliance on investigation material and adverse inference, without independent positive evidence linking the credits to undisclosed income, was insufficient, so the deletion of the additions was upheld. A commission addition alleged to have been paid for obtaining an accommodation entry also failed because it depended on the same unsupported premise and no material showed routing of the assessee's unaccounted money through the entry. Case-Laws Income Tax Wed, 01 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260238