https://www.taxtmi.com/caselaws?id=795917 Preference share capital cannot be treated as unexplained cash credit where the assessee establishes the investors' identity, creditworthiness and the genuineness of investments through share applications, banking records, confirmations, tax returns, financial statements and corporate records. Receipt through banking channels supported the transactions, while uncorroborated investigation statements could not sustain an addition without an effective cross-examination opportunity. In the absence of evidence that funds originated from and returned to the assessee through investor companies, and in view of consistent decisions on substantially identical transactions, the Section 68 addition was deleted. en-us Fri, 12 Jun 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795917 Preference share capital cannot be treated as unexplained cash credit where the assessee establishes the investors' identity, creditworthiness and the genuineness of investments through share applications, banking records, confirmations, tax returns, financial statements and corporate records. Receipt through banking channels supported the transactions, while uncorroborated investigation statements could not sustain an addition without an effective cross-examination opportunity. In the absence of evidence that funds originated from and returned to the assessee through investor companies, and in view of consistent decisions on substantially identical transactions, the Section 68 addition was deleted. Case-Laws Income Tax Fri, 12 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795917