https://www.taxtmi.com/caselaws?id=464523 ITAT (Kolkata) held that additions under Sec. 68 could not be sustained where the assessee furnished documentary evidence to prove identity, creditworthiness and genuineness of share subscriptions. The AO's and Revenue's contention that share capital and share premium were unexplained cash credits was rejected because the assessee produced subscription confirmations, bank statements, allotment advices, ITR acknowledgments, financials and assessment orders examined by AO and CIT(A). Appeal allowed in favour of the assessee. en-us Fri, 27 Sep 2024 00:00:00 +0530 Mon, 03 Nov 2025 19:39:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464523 ITAT (Kolkata) held that additions under Sec. 68 could not be sustained where the assessee furnished documentary evidence to prove identity, creditworthiness and genuineness of share subscriptions. The AO's and Revenue's contention that share capital and share premium were unexplained cash credits was rejected because the assessee produced subscription confirmations, bank statements, allotment advices, ITR acknowledgments, financials and assessment orders examined by AO and CIT(A). Appeal allowed in favour of the assessee. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464523