https://www.taxtmi.com/highlights?id=74823 Addition u/s 68 - unexplained share application money - The Tribunal noted that the assessee provided complete details of the share subscribers, their financial capacity, and the transactions were carried out through banking channels, shifting the burden of proof to the Assessing Officer (AO) who failed to conduct an adequate inquiry to disprove the assessee's claims. Therefore, the primary onus placed on the assessee by section 68 was discharged, and the addition made by the AO was not justified. en-us Mon, 12 Feb 2024 06:29:58 +0530 Mon, 12 Feb 2024 06:29:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74823 Addition u/s 68 - unexplained share application money - The Tribunal noted that the assessee provided complete details of the share subscribers, their financial capacity, and the transactions were carried out through banking channels, shifting the burden of proof to the Assessing Officer (AO) who failed to conduct an adequate inquiry to disprove the assessee's claims. Therefore, the primary onus placed on the assessee by section 68 was discharged, and the addition made by the AO was not justified. Highlights Income Tax Mon, 12 Feb 2024 06:29:58 +0530 https://www.taxtmi.com/highlights?id=74823