TMI BlogAddition u/s 68 - unexplained share subscription from various parties - onus to proof - From the above...Addition u/s 68 - unexplained share subscription from various parties - onus to proof - From the above facts it is obvious that the Ld.AO of the shareholders have examined the sources of income of these shareholders U/S 143(3) of the Act and have not drawn any adverse inferences. The income-tax assessment orders passed U/S 143 (3) of the Act in the matters of these shareholders show that the Ld.AOs of the shareholders did not doubt their bona fide existence or the genuineness of their transactio..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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