https://www.taxtmi.com/caselaws?id=795927 Share application money and share premium cannot be treated as unexplained cash credit where corporate records, confirmations, tax returns, financial statements, bank records, allotment documents and valuation material establish the investors' identity, creditworthiness and transaction genuineness. Investigation material alone does not displace such evidence without independent enquiry, identified defects or valuation examination. The later proviso requiring explanation of the investor's source of funds did not apply retrospectively to the relevant assessment year. The quantum of share premium, by itself, was insufficient to justify an addition under Section 68. en-us Thu, 16 Jul 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795927 Share application money and share premium cannot be treated as unexplained cash credit where corporate records, confirmations, tax returns, financial statements, bank records, allotment documents and valuation material establish the investors' identity, creditworthiness and transaction genuineness. Investigation material alone does not displace such evidence without independent enquiry, identified defects or valuation examination. The later proviso requiring explanation of the investor's source of funds did not apply retrospectively to the relevant assessment year. The quantum of share premium, by itself, was insufficient to justify an addition under Section 68. Case-Laws Income Tax Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795927