In this case, the Supreme Court addressed the issue of addition under Section 68 of the Income-tax Act relating to share capital received by the assessee-company during Assessment Years 2011-12 and 2012-13. The Assessing Officer had made an addition under Section 68 on the ground that the assessee failed to satisfactorily explain the nature and source of share application money received from three companies. The AO examined the genuineness and creditworthiness of the transactions and concluded that the assessee had not discharged its onus. However, the Tribunal deleted the addition, holding that the assessee had established identity and discharged its burden. The High Court reversed the Tribunal’s decision, observing that mere proof of identity of the investor does not suffice under Section 68; the assessee must also prove the creditworthiness of the investors and the genuineness of the transactions, including their financial capacity to invest. The Court noted that the Tribunal had ignored material evidence considered by the AO and failed to address findings regarding creditworthiness and genuineness. Consequently, the High Court restored the AO’s addition. The assessee challenged this before the Supreme Court, but the Court found no reason to interfere with the High Court’s order and dismissed the Special Leave Petition.(AY. 2011-12, 2012-13)