https://www.taxtmi.com/caselaws?id=384517 Share capital and share premium additions under section 68 were unsustainable where the assessee produced PAN, bank statements, audited accounts, share application forms, confirmations and other supporting records. The documentary evidence established the identity, creditworthiness and genuineness of the share applicants, so the initial burden stood discharged. Once that burden was met, the Revenue had to dislodge the material through meaningful enquiry, and mere non-appearance of directors or suspicion based on conjecture was insufficient. The addition was therefore deleted. en-us Fri, 09 Aug 2019 00:00:00 +0530 Sat, 19 Oct 2019 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384517 Share capital and share premium additions under section 68 were unsustainable where the assessee produced PAN, bank statements, audited accounts, share application forms, confirmations and other supporting records. The documentary evidence established the identity, creditworthiness and genuineness of the share applicants, so the initial burden stood discharged. Once that burden was met, the Revenue had to dislodge the material through meaningful enquiry, and mere non-appearance of directors or suspicion based on conjecture was insufficient. The addition was therefore deleted. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384517