https://www.taxtmi.com/caselaws?id=460875 In a Section 68 share application money dispute, the assessee discharged the initial burden by producing material on the share applicants, including assessed status and financial particulars. The CIT(A) and Tribunal found that identity, creditworthiness and genuineness were not disproved by any meaningful enquiry, and the assessing officer did not show independent verification or establish non-genuineness. Mere non-appearance of some directors in response to summons did not override the documentary evidence. The Calcutta HC held that the Tribunal was justified in upholding deletion of the addition and that the issue was one of fact, raising no substantial question of law. en-us Fri, 20 Dec 2024 00:00:00 +0530 Wed, 26 Feb 2025 22:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460875 In a Section 68 share application money dispute, the assessee discharged the initial burden by producing material on the share applicants, including assessed status and financial particulars. The CIT(A) and Tribunal found that identity, creditworthiness and genuineness were not disproved by any meaningful enquiry, and the assessing officer did not show independent verification or establish non-genuineness. Mere non-appearance of some directors in response to summons did not override the documentary evidence. The Calcutta HC held that the Tribunal was justified in upholding deletion of the addition and that the issue was one of fact, raising no substantial question of law. Case-Laws Income Tax Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460875