https://www.taxtmi.com/caselaws?id=263468 The Tribunal allowed the Revenue's appeal, upholding the addition of Rs. 99,00,000/- by the AO as the assessee failed to establish the genuineness and creditworthiness of the share application money. The Tribunal stressed the necessity of proving the identity, genuineness, and creditworthiness of the cash creditor under section 68 of the IT Act, highlighting the failure to produce relevant parties for examination and the AO's findings of accommodation entries in the transactions. en-us Tue, 11 Aug 2015 00:00:00 +0530 Tue, 01 Sep 2015 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263468 The Tribunal allowed the Revenue's appeal, upholding the addition of Rs. 99,00,000/- by the AO as the assessee failed to establish the genuineness and creditworthiness of the share application money. The Tribunal stressed the necessity of proving the identity, genuineness, and creditworthiness of the cash creditor under section 68 of the IT Act, highlighting the failure to produce relevant parties for examination and the AO's findings of accommodation entries in the transactions. Case-Laws Income Tax Tue, 11 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263468