https://www.taxtmi.com/caselaws?id=446036 ITAT Indore-AT partially allowed the appeal regarding additions under section 68 for unexplained share application money. The tribunal upheld additions for two shareholders - one who allegedly invested after his death date, and another whose meager income of Rs. 47,967 could not support a Rs. 1,30,000 investment. However, additions were deleted for a registered society and club, finding sufficient evidence of identity and creditworthiness. The assessee failed to prove identity, creditworthiness and genuineness of transactions for the upheld additions. en-us Fri, 25 Aug 2023 00:00:00 +0530 Fri, 24 Nov 2023 07:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446036 ITAT Indore-AT partially allowed the appeal regarding additions under section 68 for unexplained share application money. The tribunal upheld additions for two shareholders - one who allegedly invested after his death date, and another whose meager income of Rs. 47,967 could not support a Rs. 1,30,000 investment. However, additions were deleted for a registered society and club, finding sufficient evidence of identity and creditworthiness. The assessee failed to prove identity, creditworthiness and genuineness of transactions for the upheld additions. Case-Laws Income Tax Fri, 25 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446036