https://www.taxtmi.com/caselaws?id=799603 Share application money from identified corporate investors is satisfactorily explained under Section 68 when PAN details, board resolutions, bank statements, financial statements and confirmations establish investor identity, available funds and receipt through banking channels. Once this initial onus is discharged, an addition requires material evidence rebutting those records. An investigation report or a retracted third-party statement, particularly where cross-examination is not allowed, cannot alone sustain an unexplained cash-credit addition. Suspicion and presumptions cannot replace evidence; on these facts, the Section 68 addition was to be deleted. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 24 Sep 2026 08:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799603 Share application money from identified corporate investors is satisfactorily explained under Section 68 when PAN details, board resolutions, bank statements, financial statements and confirmations establish investor identity, available funds and receipt through banking channels. Once this initial onus is discharged, an addition requires material evidence rebutting those records. An investigation report or a retracted third-party statement, particularly where cross-examination is not allowed, cannot alone sustain an unexplained cash-credit addition. Suspicion and presumptions cannot replace evidence; on these facts, the Section 68 addition was to be deleted. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799603