https://www.taxtmi.com/caselaws?id=470056 Share capital and share premium additions under Section 68 were unsustainable where the assessee established investor identity, creditworthiness and transaction genuineness through PAN details, income-tax returns, bank statements, confirmations and investor balance sheets. All investments were received through banking channels, and the investor companies independently supplied information in response to Section 133(6) notices, with bank records showing sufficient funds. Directors' failure to appear personally before the Assessing Officer, despite requesting appearance before an officer at Kolkata, did not by itself discredit the transactions or justify an adverse inference. The addition was therefore deleted in favour of the assessee. en-us Thu, 13 Mar 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470056 Share capital and share premium additions under Section 68 were unsustainable where the assessee established investor identity, creditworthiness and transaction genuineness through PAN details, income-tax returns, bank statements, confirmations and investor balance sheets. All investments were received through banking channels, and the investor companies independently supplied information in response to Section 133(6) notices, with bank records showing sufficient funds. Directors' failure to appear personally before the Assessing Officer, despite requesting appearance before an officer at Kolkata, did not by itself discredit the transactions or justify an adverse inference. The addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470056