https://www.taxtmi.com/caselaws?id=379690 In a section 68 context, share capital and share premium cannot be added where the assessee produces PAN, income-tax returns, audited financial statements, bank statements and confirmations showing the identity, creditworthiness and genuineness of the share applicants. Routing the investment through banking channels, together with substantial own funds and no cash deposits or other material indicating introduction of undisclosed money, supports discharge of the initial onus. Non-production of the directors, by itself, is insufficient to displace reliable documentary evidence and sustain the addition. en-us Wed, 01 May 2019 00:00:00 +0530 Tue, 07 May 2019 06:09:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379690 In a section 68 context, share capital and share premium cannot be added where the assessee produces PAN, income-tax returns, audited financial statements, bank statements and confirmations showing the identity, creditworthiness and genuineness of the share applicants. Routing the investment through banking channels, together with substantial own funds and no cash deposits or other material indicating introduction of undisclosed money, supports discharge of the initial onus. Non-production of the directors, by itself, is insufficient to displace reliable documentary evidence and sustain the addition. Case-Laws Income Tax Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379690