https://www.taxtmi.com/caselaws?id=801331 Section 68 additions for share capital, premium and unsecured loans were unsustainable where corporate subscribers and lenders provided verified identity, financial capacity, confirmations, audited accounts and banking records, including source-of-funds evidence where examined. Lack of adverse findings in remand verification, repayment of loans, and denial of cross-examination on an undisclosed inspector's report supported deletion of the additions. Under the Purpose Test, incentives intended to establish or expand industry, create employment and promote regional development were capital receipts rather than operational-profit supplements; they were excluded from normal income computation. Transport subsidy and VAT/CST remission, as receipts not constituting income, were also excluded from book profit for MAT. en-us Tue, 13 Oct 2026 00:00:00 +0530 Mon, 19 Oct 2026 07:01:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801331 Section 68 additions for share capital, premium and unsecured loans were unsustainable where corporate subscribers and lenders provided verified identity, financial capacity, confirmations, audited accounts and banking records, including source-of-funds evidence where examined. Lack of adverse findings in remand verification, repayment of loans, and denial of cross-examination on an undisclosed inspector's report supported deletion of the additions. Under the Purpose Test, incentives intended to establish or expand industry, create employment and promote regional development were capital receipts rather than operational-profit supplements; they were excluded from normal income computation. Transport subsidy and VAT/CST remission, as receipts not constituting income, were also excluded from book profit for MAT. Case-Laws Income Tax Tue, 13 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801331