https://www.taxtmi.com/caselaws?id=471378 Fresh enquiry and verification directed in revision proceedings must be completed before an addition for alleged unexplained share capital and premium is sustained. Required steps included issuing summons to secure the concerned directors' presence, but the assessment record did not establish when notice was issued and recorded that the enquiry could not be undertaken. Making a substantial addition through a summary assessment without completing those enquiries requires fresh adjudication on merits after giving the assessee adequate opportunity of hearing. The alleged unexplained share capital remains open for determination in accordance with law. en-us Thu, 15 Dec 2022 00:00:00 +0530 Tue, 01 Sep 2026 15:08:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471378 Fresh enquiry and verification directed in revision proceedings must be completed before an addition for alleged unexplained share capital and premium is sustained. Required steps included issuing summons to secure the concerned directors' presence, but the assessment record did not establish when notice was issued and recorded that the enquiry could not be undertaken. Making a substantial addition through a summary assessment without completing those enquiries requires fresh adjudication on merits after giving the assessee adequate opportunity of hearing. The alleged unexplained share capital remains open for determination in accordance with law. Case-Laws Income Tax Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471378