https://www.taxtmi.com/caselaws?id=430108 The appeal against the addition made under section 68 of the Income-tax Act, 1961 for unexplained share capital and premium was dismissed by the Tribunal. The Tribunal found that the appellant failed to prove the legitimacy of the share capital and premium, as well as the identity, creditworthiness of share subscribers, and genuineness of transactions. Despite legal representation, the appellant's reluctance to disclose essential information raised suspicions of tax evasion, leading to the dismissal of the appeal on 03-11-2022. en-us Thu, 03 Nov 2022 00:00:00 +0530 Mon, 12 Dec 2022 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430108 The appeal against the addition made under section 68 of the Income-tax Act, 1961 for unexplained share capital and premium was dismissed by the Tribunal. The Tribunal found that the appellant failed to prove the legitimacy of the share capital and premium, as well as the identity, creditworthiness of share subscribers, and genuineness of transactions. Despite legal representation, the appellant's reluctance to disclose essential information raised suspicions of tax evasion, leading to the dismissal of the appeal on 03-11-2022. Case-Laws Income Tax Thu, 03 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430108