https://www.taxtmi.com/caselaws?id=468114 Share application money was held to be outside section 68 where the assessee produced confirmations, PAN details, bank statements, income-tax returns, allotment records and ledger entries, and the applicants also replied directly to notices under section 133(6). On those facts, the assessee had discharged the primary onus by proving identity, creditworthiness and genuineness of the share applicants. Any residual doubt had to be pursued by the Revenue against the applicants, not by making an addition in the assessee's hands, especially where production of the applicants was beyond the assessee's control. The addition was therefore treated as unsustainable and directed to be deleted. en-us Tue, 11 Feb 2025 00:00:00 +0530 Thu, 16 Apr 2026 19:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468114 Share application money was held to be outside section 68 where the assessee produced confirmations, PAN details, bank statements, income-tax returns, allotment records and ledger entries, and the applicants also replied directly to notices under section 133(6). On those facts, the assessee had discharged the primary onus by proving identity, creditworthiness and genuineness of the share applicants. Any residual doubt had to be pursued by the Revenue against the applicants, not by making an addition in the assessee's hands, especially where production of the applicants was beyond the assessee's control. The addition was therefore treated as unsustainable and directed to be deleted. Case-Laws Income Tax Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468114