https://www.taxtmi.com/caselaws?id=469235 Section 68 does not apply to share capital or share premium received in earlier assessment years. For amounts received during the relevant year, investor income-tax returns, audited accounts, bank statements, share application forms, responses to information notices and evidence of source of funds can establish the genuineness and source of the credit. Non-compliance by directors of subscriber companies with summons, without more, does not justify treating the credit as unexplained where supporting documentary evidence is available. The stated analysis concludes that the share capital and share premium addition should be deleted. en-us Tue, 04 Mar 2025 00:00:00 +0530 Wed, 10 Jun 2026 20:06:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469235 Section 68 does not apply to share capital or share premium received in earlier assessment years. For amounts received during the relevant year, investor income-tax returns, audited accounts, bank statements, share application forms, responses to information notices and evidence of source of funds can establish the genuineness and source of the credit. Non-compliance by directors of subscriber companies with summons, without more, does not justify treating the credit as unexplained where supporting documentary evidence is available. The stated analysis concludes that the share capital and share premium addition should be deleted. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469235