https://www.taxtmi.com/caselaws?id=192896 The Tribunal upheld the additions made by the AO under Section 68 for both assessment years, dismissing the appeals. The assessee failed to prove the genuineness of share subscriptions and the creditworthiness of shareholders. The validity of the assessment reopening was affirmed, and the amended Section 68 was held to have retrospective effect. The assessee did not meet the burden of proof required under the section, resulting in the Tribunal's decision against the assessee. en-us Sun, 24 Apr 2016 00:00:00 +0530 Sat, 01 Jul 2017 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192896 The Tribunal upheld the additions made by the AO under Section 68 for both assessment years, dismissing the appeals. The assessee failed to prove the genuineness of share subscriptions and the creditworthiness of shareholders. The validity of the assessment reopening was affirmed, and the amended Section 68 was held to have retrospective effect. The assessee did not meet the burden of proof required under the section, resulting in the Tribunal's decision against the assessee. Case-Laws Income Tax Sun, 24 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192896