https://www.taxtmi.com/caselaws?id=468091 Addition under section 68 for share capital and premium was held unsustainable where the investor's identity, creditworthiness and transaction genuineness were supported by banking records and documentary material, and the adverse inference rested on conjecture rather than evidence. Disallowance under section 40(a)(ia) was not sustained: the professional fee issue remained contingent on proof of the payee's tax compliance, while the shipping payment issue had already been rectified in separate proceedings. Proportionate interest disallowance under section 36(1)(iii) was deleted because sufficient shareholders' funds and reserves were available, so advances were presumed to have come from interest-free funds rather than borrowed money. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 15 Apr 2026 20:22:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468091 Addition under section 68 for share capital and premium was held unsustainable where the investor's identity, creditworthiness and transaction genuineness were supported by banking records and documentary material, and the adverse inference rested on conjecture rather than evidence. Disallowance under section 40(a)(ia) was not sustained: the professional fee issue remained contingent on proof of the payee's tax compliance, while the shipping payment issue had already been rectified in separate proceedings. Proportionate interest disallowance under section 36(1)(iii) was deleted because sufficient shareholders' funds and reserves were available, so advances were presumed to have come from interest-free funds rather than borrowed money. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468091