https://www.taxtmi.com/caselaws?id=752680 The ITAT Raipur dismissed the assessee's appeal against addition under section 68 for unexplained cash credit relating to share capital/premium received. The tribunal held that the assessee failed to discharge its onus by not providing adequate details of share capital money received, documents establishing creditworthiness and genuineness of transactions, or documentary evidence of money flow including sale deed. The AO's action in making the addition was confirmed as the assessee could not prove the identity, creditworthiness, and genuineness of the share capital transaction as required under section 68. en-us Tue, 14 May 2024 00:00:00 +0530 Thu, 16 May 2024 07:50:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752680 The ITAT Raipur dismissed the assessee's appeal against addition under section 68 for unexplained cash credit relating to share capital/premium received. The tribunal held that the assessee failed to discharge its onus by not providing adequate details of share capital money received, documents establishing creditworthiness and genuineness of transactions, or documentary evidence of money flow including sale deed. The AO's action in making the addition was confirmed as the assessee could not prove the identity, creditworthiness, and genuineness of the share capital transaction as required under section 68. Case-Laws Income Tax Tue, 14 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752680