2015 (4) TMI 481 - SC ORDER

Addition u/s 68 - Onus of proving the identity and credit-worthiness of the share subscriber - Genuineness of subscription - Supreme Court after condoning the delay, found no merit in the special leave petition filed by the assessee against the decision of Delhi High Court [2014 (8) TMI 905 - DELHI HIGH COURT] wherein Delhi High Court held that assessee was unable to produce directors and principal officers of the six shareholder companies and also the fact that as per the information and details collected by the AO from the concerned bank, the AO has observed that there were genuine concerns about identity, creditworthiness of shareholders as well as genuineness of the transactions.