https://www.taxtmi.com/highlights?id=83262 Non-proving identity, creditworthiness, and genuineness of share premium received cannot be treated as unexplained income if sufficient documentary evidence is provided. Once a company proves existence and authenticity of shareholders, it discharges burden u/s 68. Share premium is a matter of business prerogative, and revenue cannot question its quantum without evidence of collusion or mala fide intent. If an assessee sufficiently establishes identity, creditworthiness, and genuineness of share capital transaction, addition u/s 68 as unexplained cash credit is unsustainable and should be deleted by the Assessing Officer. en-us Wed, 20 Nov 2024 08:47:12 +0530 Wed, 20 Nov 2024 08:47:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83262 Non-proving identity, creditworthiness, and genuineness of share premium received cannot be treated as unexplained income if sufficient documentary evidence is provided. Once a company proves existence and authenticity of shareholders, it discharges burden u/s 68. Share premium is a matter of business prerogative, and revenue cannot question its quantum without evidence of collusion or mala fide intent. If an assessee sufficiently establishes identity, creditworthiness, and genuineness of share capital transaction, addition u/s 68 as unexplained cash credit is unsustainable and should be deleted by the Assessing Officer. Highlights Income Tax Wed, 20 Nov 2024 08:47:12 +0530 https://www.taxtmi.com/highlights?id=83262