Tribunal Rules Share Capital Transactions Legitimate; Revenue Fails to Prove Otherwise u/s 68.

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....The assessee company received share capital and share application money from 13 share applicants. The Assessing Officer (AO) made an addition u/s 68, alleging that the identity, creditworthiness of the share applicants, and genuineness of the transactions were not proved. The assessee filed voluminous documents to establish the identity, creditworthiness, and genuineness. The Tribunal held that the documents speak for themselves, proving the identity, creditworthiness, and genuineness beyond doubt, as the share applicant companies had sufficient net worth to make the investments in the NBFC company for better returns. Once the assessee discharged the primary onus, the burden shifted to the Revenue. The AO's general observations of dissatisf.........