https://www.taxtmi.com/caselaws?id=782951 ITAT Kolkata dismissed the revenue's appeal and upheld the CIT(A)'s deletion of additions made u/s 68 on account of alleged bogus share capital, share premium and unsecured loans. The Tribunal noted that the assessee had furnished comprehensive documentary evidence regarding identity, creditworthiness and genuineness of the share subscribers and loan creditors, and that summons/non-response and low returned income of subscribers could not, by themselves, justify addition. For unsecured loans, ITAT accepted the CIT(A)'s factual finding that the loans were properly documented and fully repaid in subsequent years, thereby satisfying s.68 requirements. Consequently, the additions were held unsustainable and the assessee's position was affirmed. en-us Tue, 02 Dec 2025 00:00:00 +0530 Sat, 06 Dec 2025 08:46:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782951 ITAT Kolkata dismissed the revenue's appeal and upheld the CIT(A)'s deletion of additions made u/s 68 on account of alleged bogus share capital, share premium and unsecured loans. The Tribunal noted that the assessee had furnished comprehensive documentary evidence regarding identity, creditworthiness and genuineness of the share subscribers and loan creditors, and that summons/non-response and low returned income of subscribers could not, by themselves, justify addition. For unsecured loans, ITAT accepted the CIT(A)'s factual finding that the loans were properly documented and fully repaid in subsequent years, thereby satisfying s.68 requirements. Consequently, the additions were held unsustainable and the assessee's position was affirmed. Case-Laws Income Tax Tue, 02 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782951