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2014 (5) TMI 892 - MADHYA PRADESH HIGH COURTDisallowance of addition u/s 68 of the Act – Unexplained share capital invested in company – Held that:- Following CIT Vs. Lovely Exports Private Limited [2008 (1) TMI 575 - SUPREME COURT OF INDIA] - if the department is having any doubt in the matter of investment of share application money or share capitals subscribed by various persons alleged to be bogus by the Department then it is for the Department to reopen their case and take action - once the assessee has discharged the burden of indicating as to the source from where, the share amount has been received - the appellate authority and the tribunal have not committed any error in rejecting the contention of the revenue – no substantial question of law arises for consideration – Decided against Revenue.
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