https://www.taxtmi.com/caselaws?id=788197 Assessment sustained where share subscription was held not genuine: factual findings showing investor's lack of operative business or financial capacity, non response to statutory enquiries, and problematic transaction sequencing supported invoking Section 68 and upholding the addition. Valuation-based alternative under Section 56(2)(viib) was treated as consequential and academic once the Section 68 addition was affirmed because valuation compliance was inadequate. Consequentially, claimed set off of current year loss was disallowed. Operative effect: revenue's additions under the capital receipt provisions stand and the assessee's reliefs were denied. en-us Mon, 16 Mar 2026 00:00:00 +0530 Wed, 18 Mar 2026 08:20:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788197 Assessment sustained where share subscription was held not genuine: factual findings showing investor's lack of operative business or financial capacity, non response to statutory enquiries, and problematic transaction sequencing supported invoking Section 68 and upholding the addition. Valuation-based alternative under Section 56(2)(viib) was treated as consequential and academic once the Section 68 addition was affirmed because valuation compliance was inadequate. Consequentially, claimed set off of current year loss was disallowed. Operative effect: revenue's additions under the capital receipt provisions stand and the assessee's reliefs were denied. Case-Laws Income Tax Mon, 16 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788197