https://www.taxtmi.com/caselaws?id=791475 Share application money could not be treated as unexplained cash credit where the assessee produced audited financial statements, bank statements, confirmation, income-tax return acknowledgement and evidence of refund through banking channels. The investor's assessed status established identity, its audited accounts showed substantial share capital, reserves and profits supporting creditworthiness, and the surrounding material discharged the three ingredients of section 68. The addition was therefore not justified merely because notice under section 133(6) was allegedly not served or not responded to, and the addition was deleted. en-us Mon, 30 Mar 2026 00:00:00 +0530 Tue, 12 May 2026 08:50:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791475 Share application money could not be treated as unexplained cash credit where the assessee produced audited financial statements, bank statements, confirmation, income-tax return acknowledgement and evidence of refund through banking channels. The investor's assessed status established identity, its audited accounts showed substantial share capital, reserves and profits supporting creditworthiness, and the surrounding material discharged the three ingredients of section 68. The addition was therefore not justified merely because notice under section 133(6) was allegedly not served or not responded to, and the addition was deleted. Case-Laws Income Tax Mon, 30 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791475