https://www.taxtmi.com/caselaws?id=759265 ITAT KOLKATA - AT sustained addition under section 68 treating share capital and share premium as bogus. The appellant failed to prove the genuineness of private placements, identity and creditworthiness of subscriber companies, and justification for the large premium; directors did not cooperate. Many subscribers lacked regular income or financial capacity and appeared to be shell entities, with no valuation or likelihood of dividend demonstrated. The Tribunal confirmed the CIT(A)'s order and decided against the assessee. en-us Tue, 06 Aug 2024 00:00:00 +0530 Mon, 18 Aug 2025 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759265 ITAT KOLKATA - AT sustained addition under section 68 treating share capital and share premium as bogus. The appellant failed to prove the genuineness of private placements, identity and creditworthiness of subscriber companies, and justification for the large premium; directors did not cooperate. Many subscribers lacked regular income or financial capacity and appeared to be shell entities, with no valuation or likelihood of dividend demonstrated. The Tribunal confirmed the CIT(A)'s order and decided against the assessee. Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759265