https://www.taxtmi.com/caselaws?id=440775 The Karnataka HC ruled in favor of the assessee regarding additions under Section 68 for alleged bogus investment receipts. The Revenue had issued notices to nineteen companies for undisclosed income. The court found that investors' identities were established, they appeared before authorities, and submitted records showing income sources. Despite the Revenue making additions in one case (Matajwala Infrastructure), the court held that the additions were not sustainable given the established facts and decided in favor of the assessee. en-us Tue, 04 Jul 2023 00:00:00 +0530 Thu, 16 Apr 2026 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440775 The Karnataka HC ruled in favor of the assessee regarding additions under Section 68 for alleged bogus investment receipts. The Revenue had issued notices to nineteen companies for undisclosed income. The court found that investors' identities were established, they appeared before authorities, and submitted records showing income sources. Despite the Revenue making additions in one case (Matajwala Infrastructure), the court held that the additions were not sustainable given the established facts and decided in favor of the assessee. Case-Laws Income Tax Tue, 04 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440775