https://www.taxtmi.com/caselaws?id=791696 Share application money was examined under section 68 of the Income-tax Act, where the assessee supported the investor's identity and transaction with audited financials, return filings, bank statements, board resolution, allotment records, and confirmation. The investor also complied directly with the section 133(6) notice and explained the source of funds, which supported the genuineness of the investment and left no doubt about the investor's identity. On those facts, the Tribunal treated the Revenue's contrary precedent as distinguishable because it involved non-existent or unverifiable investors, and the addition under section 68 was deleted. en-us Wed, 13 May 2026 00:00:00 +0530 Fri, 15 May 2026 09:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791696 Share application money was examined under section 68 of the Income-tax Act, where the assessee supported the investor's identity and transaction with audited financials, return filings, bank statements, board resolution, allotment records, and confirmation. The investor also complied directly with the section 133(6) notice and explained the source of funds, which supported the genuineness of the investment and left no doubt about the investor's identity. On those facts, the Tribunal treated the Revenue's contrary precedent as distinguishable because it involved non-existent or unverifiable investors, and the addition under section 68 was deleted. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791696