https://www.taxtmi.com/caselaws?id=461567 ITAT Kolkata held that addition under Section 68 for share capital and premium was unjustified. The assessee successfully demonstrated the nature and source of credits from share applicants with complete evidence. The AO failed to identify specific errors in the documentation. Since all share applicants were assessed to tax and underwent scrutiny proceedings for the same assessment year, and the assessee discharged its primary onus, Section 68 provisions could not be invoked. Appeal decided in favour of the assessee. en-us Mon, 03 Jul 2023 00:00:00 +0530 Mon, 14 Apr 2025 08:35:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461567 ITAT Kolkata held that addition under Section 68 for share capital and premium was unjustified. The assessee successfully demonstrated the nature and source of credits from share applicants with complete evidence. The AO failed to identify specific errors in the documentation. Since all share applicants were assessed to tax and underwent scrutiny proceedings for the same assessment year, and the assessee discharged its primary onus, Section 68 provisions could not be invoked. Appeal decided in favour of the assessee. Case-Laws Income Tax Mon, 03 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461567