2008 (12) TMI 7 - DELHI HIGH COURT

Addition had been made u/s 68 on account of the share application money received by the assessee company - assessee had discharged the onus of establishing the identity of each of the subscribers - it is also a fact that they have shown the said amounts in their audited balance sheets and have also filed returns before the Income Tax Authorities - Tribunal rightly reversed the findings of the authorities below and deleted the addition - revenue’s appeal is dismissed