https://www.taxtmi.com/caselaws?id=433023 Cash payments exceeding the prescribed limit were disallowed because no applicable exception was established, and share-capital related expenditure was denied amortisation for lack of evidence that it qualified under the relevant statutory provision. Share capital and premium received in two assessment years were treated as unexplained cash credits where subscribers' identity, financial capacity and the genuineness of transactions were not credibly proved. Non-response to notices or summons, unverifiable funding sources, a subscriber's denial, and cash deposits preceding remittances undermined the explanation. Banking channels and confirmations alone did not establish creditworthiness or genuineness where circumstances indicated accommodation entries. en-us Mon, 16 Jan 2023 00:00:00 +0530 Wed, 18 Jan 2023 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433023 Cash payments exceeding the prescribed limit were disallowed because no applicable exception was established, and share-capital related expenditure was denied amortisation for lack of evidence that it qualified under the relevant statutory provision. Share capital and premium received in two assessment years were treated as unexplained cash credits where subscribers' identity, financial capacity and the genuineness of transactions were not credibly proved. Non-response to notices or summons, unverifiable funding sources, a subscriber's denial, and cash deposits preceding remittances undermined the explanation. Banking channels and confirmations alone did not establish creditworthiness or genuineness where circumstances indicated accommodation entries. Case-Laws Income Tax Mon, 16 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433023