https://www.taxtmi.com/caselaws?id=771381 ITAT Rajkot dismissed revenue's appeal regarding addition under section 68 for unexplained cash credits. The assessee successfully established identity, creditworthiness, and genuineness of share application money by providing comprehensive documentation including identity proofs, ITRs, bank statements, balance sheets, and audited cash books. Since 89% of share capital was already accepted as genuine by AO, the remaining 11% should be treated similarly based on identical facts. The tribunal upheld CIT(A)'s decision, finding no additional evidence was submitted during appellate proceedings, only publicly available supporting documents. The assessee discharged its burden under section 68 proviso inserted by Finance Act 2012. en-us Wed, 21 May 2025 00:00:00 +0530 Sat, 24 May 2025 09:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771381 ITAT Rajkot dismissed revenue's appeal regarding addition under section 68 for unexplained cash credits. The assessee successfully established identity, creditworthiness, and genuineness of share application money by providing comprehensive documentation including identity proofs, ITRs, bank statements, balance sheets, and audited cash books. Since 89% of share capital was already accepted as genuine by AO, the remaining 11% should be treated similarly based on identical facts. The tribunal upheld CIT(A)'s decision, finding no additional evidence was submitted during appellate proceedings, only publicly available supporting documents. The assessee discharged its burden under section 68 proviso inserted by Finance Act 2012. Case-Laws Income Tax Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771381