https://www.taxtmi.com/caselaws?id=389690 In share capital and share premium cases, the assessee must prove the identity, creditworthiness and genuineness of the investors and the transaction under section 68. Mere filing of confirmations, return acknowledgements, bank statements and receipt through banking channels is not enough where surrounding circumstances raise doubt, such as low investor income, unexplained premium and lack of evidence of real business activity. Applying the test of human probabilities and surrounding facts, the deletion of the addition was found unsustainable, and the assessment addition for unexplained credits was restored. en-us Fri, 06 Dec 2019 00:00:00 +0530 Sat, 14 Dec 2019 14:24:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389690 In share capital and share premium cases, the assessee must prove the identity, creditworthiness and genuineness of the investors and the transaction under section 68. Mere filing of confirmations, return acknowledgements, bank statements and receipt through banking channels is not enough where surrounding circumstances raise doubt, such as low investor income, unexplained premium and lack of evidence of real business activity. Applying the test of human probabilities and surrounding facts, the deletion of the addition was found unsustainable, and the assessment addition for unexplained credits was restored. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389690