https://www.taxtmi.com/caselaws?id=787954 Unexplained credits treated as share capital and premium require proof of three cumulative ingredients - investor identity, investor capacity/creditworthiness, and genuineness of the transaction - and documentary compliance alone is not conclusive; independent enquiries (bank tracing, field verification, surveys, statements) may be used to test the "source of the source" and lift the corporate veil. The tribunal erred in relying primarily on formal documents without addressing incriminating material showing routing and return of funds, non existent or name lender investors and meagre financials; accordingly the addition under Section 68 read with Sections 153A and 143(3) is restored in favour of the revenue. en-us Thu, 04 Sep 2025 00:00:00 +0530 Sat, 14 Mar 2026 08:36:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787954 Unexplained credits treated as share capital and premium require proof of three cumulative ingredients - investor identity, investor capacity/creditworthiness, and genuineness of the transaction - and documentary compliance alone is not conclusive; independent enquiries (bank tracing, field verification, surveys, statements) may be used to test the "source of the source" and lift the corporate veil. The tribunal erred in relying primarily on formal documents without addressing incriminating material showing routing and return of funds, non existent or name lender investors and meagre financials; accordingly the addition under Section 68 read with Sections 153A and 143(3) is restored in favour of the revenue. Case-Laws Income Tax Thu, 04 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787954