https://www.taxtmi.com/caselaws?id=775058 Share premium received on issuance of shares is a capital account receipt and does not constitute income; therefore additions under income-tax principles require justification beyond mere accounting entries. The report finds no evidence of depletion or reinvestment of the share premium account and criticises revenue for conflating creation of a share premium account with utilisation of funds; accordingly, treating the entire premium as unexplained cash credit was unwarranted on merits. The appellate challenge was dismissed by the court, with no interference on the impugned High Court order. en-us Tue, 15 Jul 2025 00:00:00 +0530 Tue, 10 Feb 2026 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775058 Share premium received on issuance of shares is a capital account receipt and does not constitute income; therefore additions under income-tax principles require justification beyond mere accounting entries. The report finds no evidence of depletion or reinvestment of the share premium account and criticises revenue for conflating creation of a share premium account with utilisation of funds; accordingly, treating the entire premium as unexplained cash credit was unwarranted on merits. The appellate challenge was dismissed by the court, with no interference on the impugned High Court order. Case-Laws Income Tax Tue, 15 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775058