Dismissing the appeal of the Revenue the Court held that, all are\u00a0 Income-tax assessees, \u00a0filed their returns of income, \u00a0share application form and allotment letters were available on record, \u00a0share application money was paid by account payee cheques, details of the bank accounts belonging to share applicants and their bank statements were on record, \u00a0in none of the transactions, there were any deposit of cash before issuing cheques to the assessee and, all the share applicants had substantial creditworthiness represented by their capital and reserves. \u00a0Order of Tribunal is affirmed. AY. 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 68 : Cash credits-Share capital and share premium \u2014 Creditworthiness and genuineness is established-Subscribers complied with the notices issued u\/s 133(6) of the Act. [S.133(6), 260A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-54951","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eij","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54951"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54951\/revisions"}],"predecessor-version":[{"id":54952,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54951\/revisions\/54952"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}