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2016 (12) TMI 617 - DELHI HIGH COURT
Addition u/s 68 - CIT (A) and the ITAT deleted the additions made - Held that:- The CIT (A)’s reasoning that the materials clearly pointed to the share applicants’ possessing substantial means to invest in the assessee’s company. The AO seized certain material to say that minimal or insubstantial amounts was paid as tax by such share applicants and did not carry out a deeper analysis or rather chose to ignore it. In these circumstances, the inferences drawn by the CIT (A) are not only factual but facially accurate. - Decided in favour of assessee