https://www.taxtmi.com/caselaws?id=471005 Share application money cannot be treated as unexplained cash credit where the taxpayer establishes investor identity, creditworthiness and transaction genuineness through PAN and corporate records, tax returns, audited financial statements, bank records, confirmations, share application and allotment documents, and ROC filings. Banking-channel receipts and investors' disclosed net worth supported the investments. Once this initial evidentiary burden is discharged, the burden shifts to the Assessing Officer. Investigation information or an unrebutted third-party statement alone, without independent enquiry or evidence contradicting the documents, does not justify an addition; deletion of the addition was sustained. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 17 Aug 2026 22:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471005 Share application money cannot be treated as unexplained cash credit where the taxpayer establishes investor identity, creditworthiness and transaction genuineness through PAN and corporate records, tax returns, audited financial statements, bank records, confirmations, share application and allotment documents, and ROC filings. Banking-channel receipts and investors' disclosed net worth supported the investments. Once this initial evidentiary burden is discharged, the burden shifts to the Assessing Officer. Investigation information or an unrebutted third-party statement alone, without independent enquiry or evidence contradicting the documents, does not justify an addition; deletion of the addition was sustained. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471005