https://www.taxtmi.com/caselaws?id=32262 The HC dismissed the Revenue's appeal, holding that the assessee-an NSE member engaged in share trading-sufficiently established the identity, genuineness and creditworthiness of shareholders in respect of share application money. The court noted the investor company was widely held with paid-up capital of Rs 3.4 crores and found the assessee had discharged its onus on veracity of transactions, relying on existing Division Bench precedent, resulting in dismissal of the appeal. en-us Fri, 30 Jan 2009 00:00:00 +0530 Fri, 05 Sep 2025 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32262 The HC dismissed the Revenue's appeal, holding that the assessee-an NSE member engaged in share trading-sufficiently established the identity, genuineness and creditworthiness of shareholders in respect of share application money. The court noted the investor company was widely held with paid-up capital of Rs 3.4 crores and found the assessee had discharged its onus on veracity of transactions, relying on existing Division Bench precedent, resulting in dismissal of the appeal. Case-Laws Income Tax Fri, 30 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32262