https://www.taxtmi.com/highlights?id=102166 Primary documentation establishing investor identity, creditworthiness and transaction genuineness is described as sufficient to discharge the initial burden for preference share capital credited under section 68. The notes state that additions cannot rest on suspicion where the Revenue produces no material showing that the assessee's own funds were routed back through investor entities. They further state that directors' adverse statements cannot sustain an addition when effective cross-examination is unavailable and documentary evidence remains undisplaced. On these stated facts, the preference share capital addition was deleted. en-us Wed, 29 Jul 2026 09:27:36 +0530 Wed, 29 Jul 2026 09:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102166 Primary documentation establishing investor identity, creditworthiness and transaction genuineness is described as sufficient to discharge the initial burden for preference share capital credited under section 68. The notes state that additions cannot rest on suspicion where the Revenue produces no material showing that the assessee's own funds were routed back through investor entities. They further state that directors' adverse statements cannot sustain an addition when effective cross-examination is unavailable and documentary evidence remains undisplaced. On these stated facts, the preference share capital addition was deleted. Highlights Income Tax Wed, 29 Jul 2026 09:27:36 +0530 https://www.taxtmi.com/highlights?id=102166