https://www.taxtmi.com/caselaws?id=466416 Addition of share capital and share premium under section 68 turns on the onus to prove identity, creditworthiness and genuineness of subscriptions. The assessee adduced source details, incometax returns and audited financials and thereby discharged the primary burden; the burden then shifted to the assessing officer to form a reasoned contrary opinion supported by investigation or independent evidence showing funds were unaccounted, routed from the assessee, or accommodation entries. Mere nonappearance of subscriber directors is not a sufficient discrepancy. On that basis the contested addition was deleted and decision favoured the assessee. en-us Wed, 29 Nov 2023 00:00:00 +0530 Thu, 05 Feb 2026 17:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466416 Addition of share capital and share premium under section 68 turns on the onus to prove identity, creditworthiness and genuineness of subscriptions. The assessee adduced source details, incometax returns and audited financials and thereby discharged the primary burden; the burden then shifted to the assessing officer to form a reasoned contrary opinion supported by investigation or independent evidence showing funds were unaccounted, routed from the assessee, or accommodation entries. Mere nonappearance of subscriber directors is not a sufficient discrepancy. On that basis the contested addition was deleted and decision favoured the assessee. Case-Laws Income Tax Wed, 29 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466416