https://www.taxtmi.com/caselaws?id=792429 Addition under section 68 for share application money and share premium could not be sustained merely because investors did not appear in response to summons under section 131. Where the assessee furnished names, addresses, PANs, income-tax returns, audited balance sheets, confirmations and bank statements of the subscribers, and the material was not shown to be defective, the burden under section 68 stood discharged by proving identity, creditworthiness and genuineness. Non-compliance with summons, without further enquiry or rebuttal of the documentary evidence, was insufficient to justify the addition, and the deletion was upheld. en-us Fri, 22 May 2026 00:00:00 +0530 Thu, 28 May 2026 08:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792429 Addition under section 68 for share application money and share premium could not be sustained merely because investors did not appear in response to summons under section 131. Where the assessee furnished names, addresses, PANs, income-tax returns, audited balance sheets, confirmations and bank statements of the subscribers, and the material was not shown to be defective, the burden under section 68 stood discharged by proving identity, creditworthiness and genuineness. Non-compliance with summons, without further enquiry or rebuttal of the documentary evidence, was insufficient to justify the addition, and the deletion was upheld. Case-Laws Income Tax Fri, 22 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792429