https://www.taxtmi.com/caselaws?id=471241 Cash-credit additions for share capital, share premium and unsecured loans are unsustainable where the assessee establishes the identity and creditworthiness of investors or lenders and the genuineness of banking-channel transactions through confirmations, PAN details, tax returns, financial statements and bank records. The evidentiary burden then shifts to the Revenue, which must conduct meaningful enquiry and produce contrary material before treating the sums as undisclosed income. A separate show-cause notice before completing an assessment under Section 143(3) is not mandatory where prior notices and questionnaires identified the transactions and the assessee had an adequate opportunity to respond. en-us Fri, 16 Feb 2024 00:00:00 +0530 Wed, 26 Aug 2026 14:39:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471241 Cash-credit additions for share capital, share premium and unsecured loans are unsustainable where the assessee establishes the identity and creditworthiness of investors or lenders and the genuineness of banking-channel transactions through confirmations, PAN details, tax returns, financial statements and bank records. The evidentiary burden then shifts to the Revenue, which must conduct meaningful enquiry and produce contrary material before treating the sums as undisclosed income. A separate show-cause notice before completing an assessment under Section 143(3) is not mandatory where prior notices and questionnaires identified the transactions and the assessee had an adequate opportunity to respond. Case-Laws Income Tax Fri, 16 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471241