https://www.taxtmi.com/caselaws?id=786538 Addition under the law treating share application money as unexplained credit was contested on the grounds of identity, creditworthiness and genuineness of investors; the assessee furnished ITRs, bank statements, confirmations and source documents and the appellate authority held that these satisfied the three statutory requirements, shifting the onus to the assessing officer to make independent enquiries to rebut the evidence. Because the assessing officer conducted no such enquiries or recording of statements, the appellate authority deleted the addition and the deletion was sustained on appeal. en-us Wed, 14 Jan 2026 00:00:00 +0530 Fri, 13 Mar 2026 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786538 Addition under the law treating share application money as unexplained credit was contested on the grounds of identity, creditworthiness and genuineness of investors; the assessee furnished ITRs, bank statements, confirmations and source documents and the appellate authority held that these satisfied the three statutory requirements, shifting the onus to the assessing officer to make independent enquiries to rebut the evidence. Because the assessing officer conducted no such enquiries or recording of statements, the appellate authority deleted the addition and the deletion was sustained on appeal. Case-Laws Income Tax Wed, 14 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786538