Public Listed Companies need not to Prove Source of Source of Share Capital u/s 68: ITAT

The ITAT has ruled that "publicly listed companies need not prove the source of a source of share capital under Section 68." The tribunal's decision, which is a significant victory for the company, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add an income to a taxpayer's account without a valid reason. The court’s decision is a crucial reminder to all taxpayers that they must maintain a record of their transactions. The tribunal’s decision is a crucial precedent for other cases.