https://www.taxtmi.com/caselaws?id=798754 For a listed public company, the first proviso to Section 68 does not require explanation of the source of shareholders' funds, although the company must establish investor identity, creditworthiness and transaction genuineness. PAN and tax particulars, banking records, application and allotment documents, demat credits, shareholder confirmations and financial records can discharge that initial burden where no specific defects or independent contrary enquiry exist. Reassessment under Sections 147 and 148 requires fresh tangible material; reopening based on already disclosed balance-sheet information, an inapplicable share-premium provision, and additions unrelated to recorded reasons is invalid. The Section 68 addition and reassessment consequently cannot survive. en-us Tue, 08 Sep 2026 00:00:00 +0530 Fri, 11 Sep 2026 08:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798754 For a listed public company, the first proviso to Section 68 does not require explanation of the source of shareholders' funds, although the company must establish investor identity, creditworthiness and transaction genuineness. PAN and tax particulars, banking records, application and allotment documents, demat credits, shareholder confirmations and financial records can discharge that initial burden where no specific defects or independent contrary enquiry exist. Reassessment under Sections 147 and 148 requires fresh tangible material; reopening based on already disclosed balance-sheet information, an inapplicable share-premium provision, and additions unrelated to recorded reasons is invalid. The Section 68 addition and reassessment consequently cannot survive. Case-Laws Income Tax Tue, 08 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798754