https://www.taxtmi.com/caselaws?id=294742 In share subscription cases, an addition under section 68 is not sustainable where the assessee produces credible documents showing the investors' identity, creditworthiness and genuineness of the transaction. Share application forms, PAN details, income-tax returns, bank statements, confirmations, incorporation records and balance sheets can establish a documented money trail through banking channels. An uncorroborated report that investor companies could not be traced at their addresses, by itself, does not displace such evidence. The Revenue must bring material to show that the impugned funds belong to the assessee; suspicion alone is insufficient, and the addition was therefore deleted. en-us Fri, 15 Feb 2019 00:00:00 +0530 Fri, 30 Apr 2021 19:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294742 In share subscription cases, an addition under section 68 is not sustainable where the assessee produces credible documents showing the investors' identity, creditworthiness and genuineness of the transaction. Share application forms, PAN details, income-tax returns, bank statements, confirmations, incorporation records and balance sheets can establish a documented money trail through banking channels. An uncorroborated report that investor companies could not be traced at their addresses, by itself, does not displace such evidence. The Revenue must bring material to show that the impugned funds belong to the assessee; suspicion alone is insufficient, and the addition was therefore deleted. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294742