https://www.taxtmi.com/caselaws?id=461028 A share capital credit is liable to be treated as unexplained cash credit under section 68 where the assessee fails to prove the investor's identity, creditworthiness and genuineness of the transaction. The assessee here received share capital from another company but could not produce confirmation or substantiate the investor's existence or financial capacity. The fact of amalgamation did not by itself discharge the initial onus to explain the source and nature of the credit. The addition was therefore sustained and the assessee's challenge failed. en-us Tue, 15 Oct 2019 00:00:00 +0530 Fri, 07 Mar 2025 19:19:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461028 A share capital credit is liable to be treated as unexplained cash credit under section 68 where the assessee fails to prove the investor's identity, creditworthiness and genuineness of the transaction. The assessee here received share capital from another company but could not produce confirmation or substantiate the investor's existence or financial capacity. The fact of amalgamation did not by itself discharge the initial onus to explain the source and nature of the credit. The addition was therefore sustained and the assessee's challenge failed. Case-Laws Income Tax Tue, 15 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461028