https://www.taxtmi.com/caselaws?id=800573 Section 68 treatment of share-capital and share-premium credits turns on evidence of the source, investor identity, creditworthiness and transaction genuineness. An accepted Income Declaration Scheme declaration may evidence the source of credited funds without conferring derivative immunity, and re-taxing income already taxed in the declarant's hands raises double-taxation concerns. For assessment year 2011-12, the later source-of-source proviso did not apply to closely held companies; however, fund trails suggesting circular routing of the assessee's own funds or cash-funded investor entities require verification. Reassessment may rest on specific search material establishing reason to believe, rather than borrowed satisfaction, even without a separate speaking order on objections. en-us Wed, 23 Sep 2026 00:00:00 +0530 Thu, 08 Oct 2026 08:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800573 Section 68 treatment of share-capital and share-premium credits turns on evidence of the source, investor identity, creditworthiness and transaction genuineness. An accepted Income Declaration Scheme declaration may evidence the source of credited funds without conferring derivative immunity, and re-taxing income already taxed in the declarant's hands raises double-taxation concerns. For assessment year 2011-12, the later source-of-source proviso did not apply to closely held companies; however, fund trails suggesting circular routing of the assessee's own funds or cash-funded investor entities require verification. Reassessment may rest on specific search material establishing reason to believe, rather than borrowed satisfaction, even without a separate speaking order on objections. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800573