https://www.taxtmi.com/caselaws?id=379694 Where share capital and share premium were supported by names, PAN, bank statements, financial statements and investor confirmations, the assessee discharged the initial burden under section 68 by establishing identity, genuineness and prima facie creditworthiness. The mere non-appearance of directors or subscribers in response to summons was insufficient to dislodge that evidence, and the assessee was not required to prove the source of the source beyond its burden. As the Revenue made no further effective enquiry to rebut the documentary material, the addition under section 68 was held unsustainable and deletion of the addition was affirmed. en-us Wed, 01 May 2019 00:00:00 +0530 Mon, 06 May 2019 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379694 Where share capital and share premium were supported by names, PAN, bank statements, financial statements and investor confirmations, the assessee discharged the initial burden under section 68 by establishing identity, genuineness and prima facie creditworthiness. The mere non-appearance of directors or subscribers in response to summons was insufficient to dislodge that evidence, and the assessee was not required to prove the source of the source beyond its burden. As the Revenue made no further effective enquiry to rebut the documentary material, the addition under section 68 was held unsustainable and deletion of the addition was affirmed. Case-Laws Income Tax Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379694