https://www.taxtmi.com/caselaws?id=415257 The Court dismissed the appeal, upholding the Tribunal's decision under Section 263 of the Income Tax Act. Emphasizing the importance of inquiries into capital receipts, the Court aligned with previous rulings on the retrospective operation of Section 68, highlighting the need to ascertain the source and genuineness of capital inflows, even in cases of share capital infusion. The judgment underscored the significance of thorough investigations to ensure tax compliance, citing precedents and rejecting the appellant's arguments regarding the treatment of share applicants. en-us Tue, 23 Nov 2021 00:00:00 +0530 Wed, 08 Jul 2026 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415257 The Court dismissed the appeal, upholding the Tribunal's decision under Section 263 of the Income Tax Act. Emphasizing the importance of inquiries into capital receipts, the Court aligned with previous rulings on the retrospective operation of Section 68, highlighting the need to ascertain the source and genuineness of capital inflows, even in cases of share capital infusion. The judgment underscored the significance of thorough investigations to ensure tax compliance, citing precedents and rejecting the appellant's arguments regarding the treatment of share applicants. Case-Laws Income Tax Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415257