https://www.taxtmi.com/caselaws?id=373102 Share capital and share premium could not be added under section 68 where the assessee furnished confirmations, PAN, income-tax acknowledgements, balance sheets, bank statements and allotment records of the share applicants. The remand report, after verification, found the investors' identity, creditworthiness and genuineness to be in order, and the capital receipt including premium to be legally proper. Once the primary burden was discharged, the assessee was not required to prove the source of source. The addition under section 68 was therefore not sustainable and was deleted. en-us Fri, 28 Dec 2018 00:00:00 +0530 Wed, 02 Jan 2019 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373102 Share capital and share premium could not be added under section 68 where the assessee furnished confirmations, PAN, income-tax acknowledgements, balance sheets, bank statements and allotment records of the share applicants. The remand report, after verification, found the investors' identity, creditworthiness and genuineness to be in order, and the capital receipt including premium to be legally proper. Once the primary burden was discharged, the assessee was not required to prove the source of source. The addition under section 68 was therefore not sustainable and was deleted. Case-Laws Income Tax Fri, 28 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373102