https://www.taxtmi.com/caselaws?id=354309 The High Court upheld the Tribunal's decision regarding the addition of share application money under section 68 of the Income Tax Act. The Court emphasized the importance of establishing the identity, genuineness, and capacity of the alleged shareholders. The appellant's failure to provide essential evidence, including the lack of creditworthiness and genuineness of the transactions, led to the dismissal of the appeal with no order as to costs. en-us Tue, 05 Dec 2017 00:00:00 +0530 Sat, 07 Jul 2018 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354309 The High Court upheld the Tribunal's decision regarding the addition of share application money under section 68 of the Income Tax Act. The Court emphasized the importance of establishing the identity, genuineness, and capacity of the alleged shareholders. The appellant's failure to provide essential evidence, including the lack of creditworthiness and genuineness of the transactions, led to the dismissal of the appeal with no order as to costs. Case-Laws Income Tax Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354309