https://www.taxtmi.com/caselaws?id=780811 ITAT, Kolkata allowed the appeal and held that share capital and share premium cannot be treated as unexplained income under s. 68 solely because subscribers or directors did not comply with summons. Where the assessee produced evidence establishing the identity, creditworthiness of investors and genuineness of transactions (PAN, bank statements, financial records), the AO's failure to address those documents does not justify additions. The addition was therefore deleted and the assessment quashed. en-us Tue, 04 Nov 2025 00:00:00 +0530 Thu, 06 Nov 2025 08:47:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780811 ITAT, Kolkata allowed the appeal and held that share capital and share premium cannot be treated as unexplained income under s. 68 solely because subscribers or directors did not comply with summons. Where the assessee produced evidence establishing the identity, creditworthiness of investors and genuineness of transactions (PAN, bank statements, financial records), the AO's failure to address those documents does not justify additions. The addition was therefore deleted and the assessment quashed. Case-Laws Income Tax Tue, 04 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780811