https://www.taxtmi.com/caselaws?id=465540 Unexplained share capital/additional application money remained taxable where the assessee failed to prove the subscriber's identity, creditworthiness, and genuineness of the transaction. Mere PAN details and incorporation documents were held insufficient when financial statements and surrounding circumstances indicated nominal operations, minimal income, and shell-company characteristics. The tribunal applied the principle that tax authorities may examine the real nature of the transaction and test documentary form against human probabilities. On those facts, the share allotment to strangers lacked commercial substance, so the addition was upheld. en-us Thu, 08 Feb 2018 00:00:00 +0530 Tue, 30 Dec 2025 13:10:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465540 Unexplained share capital/additional application money remained taxable where the assessee failed to prove the subscriber's identity, creditworthiness, and genuineness of the transaction. Mere PAN details and incorporation documents were held insufficient when financial statements and surrounding circumstances indicated nominal operations, minimal income, and shell-company characteristics. The tribunal applied the principle that tax authorities may examine the real nature of the transaction and test documentary form against human probabilities. On those facts, the share allotment to strangers lacked commercial substance, so the addition was upheld. Case-Laws Income Tax Thu, 08 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465540