https://www.taxtmi.com/highlights?id=62111 Addition u/s 68 - In the instant case, despite numerous opportunities granted by the A.O, the assessee failed to substantiate with evidence to his satisfaction regarding the identity and creditworthiness of the share applicants and the genuineness of the transaction. It is also not understood as to how the assessee company was able to get share premium of ₹ 49,990/- per share for a ₹ 10/- per share when it is not doing any worthwhile business. - Additions confirmed - AT en-us Thu, 24 Feb 2022 07:13:22 +0530 Thu, 24 Feb 2022 07:13:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62111 Addition u/s 68 - In the instant case, despite numerous opportunities granted by the A.O, the assessee failed to substantiate with evidence to his satisfaction regarding the identity and creditworthiness of the share applicants and the genuineness of the transaction. It is also not understood as to how the assessee company was able to get share premium of ₹ 49,990/- per share for a ₹ 10/- per share when it is not doing any worthwhile business. - Additions confirmed - AT Highlights Income Tax Thu, 24 Feb 2022 07:13:22 +0530 https://www.taxtmi.com/highlights?id=62111