https://www.taxtmi.com/caselaws?id=428902 Concurrent findings that investor companies were assessed under section 143(3), that investments were verified, and that share capital and premium were received through account payee cheques or demand drafts supported the identity, creditworthiness and genuineness of the transactions. In the absence of any material showing that the investor assessments were disturbed under section 147 or section 263, the High Court held that no perversity was shown and it could not reappreciate evidence merely because another view was possible. The deletion of the section 68 additions was therefore upheld, and no substantial question of law arose. en-us Mon, 10 Oct 2022 00:00:00 +0530 Wed, 12 Oct 2022 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428902 Concurrent findings that investor companies were assessed under section 143(3), that investments were verified, and that share capital and premium were received through account payee cheques or demand drafts supported the identity, creditworthiness and genuineness of the transactions. In the absence of any material showing that the investor assessments were disturbed under section 147 or section 263, the High Court held that no perversity was shown and it could not reappreciate evidence merely because another view was possible. The deletion of the section 68 additions was therefore upheld, and no substantial question of law arose. Case-Laws Income Tax Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428902