https://www.taxtmi.com/caselaws?id=790885 In a share capital and share premium matter, the Tribunal held that the assessee had discharged the initial burden under section 68 by producing subscriber details, PAN, income-tax returns, audited financial statements, bank statements, allotment records, and replies to notices under section 133(6). Those documents established identity, creditworthiness, and genuineness of the transactions, including adequate net worth of the subscriber companies. The addition was not justified merely because the directors did not appear in response to later summons, since contemporaneous documentary evidence had been ignored by the lower authorities. The section 68 addition was therefore deleted in favour of the assessee. en-us Wed, 15 Apr 2026 00:00:00 +0530 Sat, 02 May 2026 07:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790885 In a share capital and share premium matter, the Tribunal held that the assessee had discharged the initial burden under section 68 by producing subscriber details, PAN, income-tax returns, audited financial statements, bank statements, allotment records, and replies to notices under section 133(6). Those documents established identity, creditworthiness, and genuineness of the transactions, including adequate net worth of the subscriber companies. The addition was not justified merely because the directors did not appear in response to later summons, since contemporaneous documentary evidence had been ignored by the lower authorities. The section 68 addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790885