https://www.taxtmi.com/caselaws?id=384645 A wrong citation of the taxing provision in an assessment order does not by itself invalidate an otherwise lawful assessment where jurisdiction exists and the defect is curable. In a section 68 enquiry on share capital and share premium, the assessee discharged the primary burden by producing identity documents, PAN, bank statements, audited accounts, returns, allotment records and confirmations for the share applicants. Once that evidence was on record, the onus shifted to the Revenue; mere non-appearance of some shareholders or lack of deeper enquiry was insufficient to sustain the addition, so the deletion was upheld. en-us Fri, 19 Jul 2019 00:00:00 +0530 Mon, 19 Aug 2019 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384645 A wrong citation of the taxing provision in an assessment order does not by itself invalidate an otherwise lawful assessment where jurisdiction exists and the defect is curable. In a section 68 enquiry on share capital and share premium, the assessee discharged the primary burden by producing identity documents, PAN, bank statements, audited accounts, returns, allotment records and confirmations for the share applicants. Once that evidence was on record, the onus shifted to the Revenue; mere non-appearance of some shareholders or lack of deeper enquiry was insufficient to sustain the addition, so the deletion was upheld. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384645