Addition u/s 68 - unexplained cash credit received - onus to prove - share capital/premium received by...

Addition u/s 68 - unexplained cash credit received - onus to prove - share capital/premium received by the appellant - The Tribunal (ITAT) found that the assessee failed to prove the creditworthiness of the investor and the genuineness of the transaction. The application for the admission of additional evidence was also rejected, as the assessee had ample opportunities to present this information during the earlier stages of the proceedings. .....

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