Sec. 68 of the Income-tax Act, 1961 - Cash credit – Revenue filed Tax Appeal against the order of Tribunal of upholding the order of CIT(A) and in deleting the addition of Rs. 3,00,00,000/- by ignoring the fact that the genuineness of the share capital received by the assessee was not proved and also the investor companies were not in existence on the given address as proved by spot enquiry made by the AO. High Court dismissed the Tax Appeal of the revenue holding that ”The tribunal has gone through the relevant records and recorded categorical findings. There is no doubt about the genuineness of the identities of the companies which were duly recorded in the bank account“. Supreme dismissed the SLP of the revenue on the ground of low tax effect. - PR. CIT V/s EMM VEE INFRASTRUCTURES (INDIA) (P.) LTD. - [2020] 269 TAXMAN 470 (SC)