https://www.taxtmi.com/caselaws?id=799768 Section 68 requires an assessee to establish subscriber identity, creditworthiness and transaction genuineness for share capital and premium. Once documentary evidence and subscriber responses are furnished, the Assessing Officer must independently examine that material, verify subscribers and documents, and trace the money trail before rejecting the explanation. Non-compliance by the assessee's directors with summons does not by itself displace supporting evidence where no adverse material or adverse money trail is established and the prescribed enquiry remains unperformed. The unexplained cash-credit addition was therefore unsustainable and deleted. en-us Wed, 16 Sep 2026 00:00:00 +0530 Sat, 26 Sep 2026 08:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799768 Section 68 requires an assessee to establish subscriber identity, creditworthiness and transaction genuineness for share capital and premium. Once documentary evidence and subscriber responses are furnished, the Assessing Officer must independently examine that material, verify subscribers and documents, and trace the money trail before rejecting the explanation. Non-compliance by the assessee's directors with summons does not by itself displace supporting evidence where no adverse material or adverse money trail is established and the prescribed enquiry remains unperformed. The unexplained cash-credit addition was therefore unsustainable and deleted. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799768