https://www.taxtmi.com/caselaws?id=468056 Share capital received from investor companies was held not to warrant addition under section 68 where their audited balance sheets, income-tax returns, tax paid particulars and net worth showed financial capacity, and the Assessing Officer had not carried out independent verification under section 133(6). In a limited scrutiny assessment, the assessment was also held invalid because no prior show-cause notice was issued before making the adverse addition, contrary to CBDT Instruction No. 20/2015. Non-compliance with that binding instruction was treated as a breach of natural justice, and the procedural invalidity was upheld. en-us Fri, 19 Dec 2025 00:00:00 +0530 Tue, 14 Apr 2026 21:12:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468056 Share capital received from investor companies was held not to warrant addition under section 68 where their audited balance sheets, income-tax returns, tax paid particulars and net worth showed financial capacity, and the Assessing Officer had not carried out independent verification under section 133(6). In a limited scrutiny assessment, the assessment was also held invalid because no prior show-cause notice was issued before making the adverse addition, contrary to CBDT Instruction No. 20/2015. Non-compliance with that binding instruction was treated as a breach of natural justice, and the procedural invalidity was upheld. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468056