https://www.taxtmi.com/caselaws?id=465386 When an assessee produces credible documentary evidence of the share applicants' identity, creditworthiness and genuineness, including income-tax particulars, balance sheets, bank statements and confirmations, the primary onus under section 68 is discharged. In the absence of further enquiry by the Revenue, such as issuing notices or summons to rebut that evidence, an addition cannot be sustained merely on suspicion about low income, share premium or alleged accommodation entries. The Tribunal held that conjecture was insufficient and deleted the addition. en-us Mon, 17 Oct 2022 00:00:00 +0530 Wed, 17 Dec 2025 15:42:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465386 When an assessee produces credible documentary evidence of the share applicants' identity, creditworthiness and genuineness, including income-tax particulars, balance sheets, bank statements and confirmations, the primary onus under section 68 is discharged. In the absence of further enquiry by the Revenue, such as issuing notices or summons to rebut that evidence, an addition cannot be sustained merely on suspicion about low income, share premium or alleged accommodation entries. The Tribunal held that conjecture was insufficient and deleted the addition. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465386