https://www.taxtmi.com/caselaws?id=779551 ITAT KOLKATA - AT held that the assessee proved identity, genuineness and creditworthiness of three group companies that subscribed to share capital and share premium, and mere non-appearance of their directors before the AO did not warrant treating receipts as unexplained cash credit under s.68. Citing settled principles, the Tribunal found no evidence these were shell concerns and ruled the sums were not assessee's income. The AO's additions under s.68 were deleted and the assessee's appeal was allowed. en-us Fri, 19 Sep 2025 00:00:00 +0530 Wed, 08 Oct 2025 08:45:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779551 ITAT KOLKATA - AT held that the assessee proved identity, genuineness and creditworthiness of three group companies that subscribed to share capital and share premium, and mere non-appearance of their directors before the AO did not warrant treating receipts as unexplained cash credit under s.68. Citing settled principles, the Tribunal found no evidence these were shell concerns and ruled the sums were not assessee's income. The AO's additions under s.68 were deleted and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 19 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779551