https://www.taxtmi.com/caselaws?id=775417 ITAT Rajkot held that the AO failed to make any inquiry into the "source of the source" of share capital under s. 68, amounting to no inquiry rather than inadequate inquiry. The assessee did not furnish necessary documents, including balance sheets of 55 shareholders, to prove the source of the source. The tribunal directed the matter to be remitted to the PCIT for granting the assessee another opportunity to submit all required evidence to establish the source of the source. The appeal was allowed for statistical purposes. en-us Mon, 02 Jun 2025 00:00:00 +0530 Fri, 25 Jul 2025 08:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775417 ITAT Rajkot held that the AO failed to make any inquiry into the "source of the source" of share capital under s. 68, amounting to no inquiry rather than inadequate inquiry. The assessee did not furnish necessary documents, including balance sheets of 55 shareholders, to prove the source of the source. The tribunal directed the matter to be remitted to the PCIT for granting the assessee another opportunity to submit all required evidence to establish the source of the source. The appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775417