https://www.taxtmi.com/caselaws?id=3703 In disputes over share subscriptions the dominant issue is whether the company discharged the evidentiary burden on identity and genuineness of subscriptions; where funds passed through banking channels, statutory share application records were maintained and allotment complied with securities rules, the company's burden was treated as discharged and additions as unexplained income were deleted. The analysis contrasts public issue treatment with private placement, emphasises that the assessing officer may investigate further if positive material arouses suspicion, but cannot sustain additions without affirmative evidence; consequent factual concurrence led to dismissal of the appeals. en-us Thu, 16 Nov 2006 00:00:00 +0530 Wed, 04 Feb 2026 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3703 In disputes over share subscriptions the dominant issue is whether the company discharged the evidentiary burden on identity and genuineness of subscriptions; where funds passed through banking channels, statutory share application records were maintained and allotment complied with securities rules, the company's burden was treated as discharged and additions as unexplained income were deleted. The analysis contrasts public issue treatment with private placement, emphasises that the assessing officer may investigate further if positive material arouses suspicion, but cannot sustain additions without affirmative evidence; consequent factual concurrence led to dismissal of the appeals. Case-Laws Income Tax Thu, 16 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3703