https://www.taxtmi.com/caselaws?id=463921 ITAT upheld the assessment addition under section 68, finding that credited sums to the assessee's share capital were neither proven genuine nor were creditors' creditworthiness established; the Assessing Officer's addition was sustained. The tribunal reversed the CIT(A)'s contrary conclusion that s.68 did not apply due to an alleged sham or fraudulent transaction and erred in holding the assessee had discharged the onus. Appeal by the revenue was allowed. en-us Wed, 05 Sep 2018 00:00:00 +0530 Mon, 22 Sep 2025 21:28:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463921 ITAT upheld the assessment addition under section 68, finding that credited sums to the assessee's share capital were neither proven genuine nor were creditors' creditworthiness established; the Assessing Officer's addition was sustained. The tribunal reversed the CIT(A)'s contrary conclusion that s.68 did not apply due to an alleged sham or fraudulent transaction and erred in holding the assessee had discharged the onus. Appeal by the revenue was allowed. Case-Laws Income Tax Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463921