Held that the assessee has proved the identity credit worthiness and genuineness of the share application. Money. The assessee discharged the burden. The addition confirmed by the CIT(A) was deleted. (AY. 2012-13)
Combined Merchants P. Ltd. v. ITO (2022) 98 ITR 26 (SN)(Kok) (Trib)
S. 68 : Cash credits-Share application money-Net worth of lending investor is sufficient to explain its creditworthiness-Addition is not sustainable.