https://www.taxtmi.com/highlights?id=58031 Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was fully explained by the assessee. The assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants. - the addition made by the AO and sustained by Ld CIT(A) was based on conjectures and surmises, so it cannot be justified - AT en-us Wed, 19 May 2021 14:02:46 +0530 Wed, 19 May 2021 14:02:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58031 Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was fully explained by the assessee. The assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants. - the addition made by the AO and sustained by Ld CIT(A) was based on conjectures and surmises, so it cannot be justified - AT Highlights Income Tax Wed, 19 May 2021 14:02:46 +0530 https://www.taxtmi.com/highlights?id=58031