https://www.taxtmi.com/caselaws?id=799673 Section 68 requires an assessee receiving share capital to establish each investor's identity and creditworthiness and the genuineness of the transaction. Confirmations, tax returns, audited financial statements, bank records, share-allotment documents and evidence of immediate funding sources may substantiate that burden. Investor creditworthiness may be supported by loan repayments received from financially capable entities, liquidation of investments, and sufficient net worth. Banking-channel transactions and unrebutted documentary evidence remain material; low returned income or an investor's location alone does not disprove creditworthiness. The evidentiary requirement can extend to explaining the investors' source of funds. en-us Wed, 16 Sep 2026 00:00:00 +0530 Fri, 25 Sep 2026 08:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799673 Section 68 requires an assessee receiving share capital to establish each investor's identity and creditworthiness and the genuineness of the transaction. Confirmations, tax returns, audited financial statements, bank records, share-allotment documents and evidence of immediate funding sources may substantiate that burden. Investor creditworthiness may be supported by loan repayments received from financially capable entities, liquidation of investments, and sufficient net worth. Banking-channel transactions and unrebutted documentary evidence remain material; low returned income or an investor's location alone does not disprove creditworthiness. The evidentiary requirement can extend to explaining the investors' source of funds. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799673