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2016 (10) TMI 1061 - HC - Income TaxFollowing questions of law are hereby framed:- 1. Whether on facts and circumstances of the case, ITAT erred in deleting the addition of ₹ 1,30,00,000/- u/s 68 where assessee was not able to produce any of the Director, Shareholders or Principal Officer of the companies to which shares were allotted? 2. Whether on facts and circumstances of the case, ITAT was justified in upholding the order of CIT(A) by reducing the addition u/s 68 to ₹ 5,01,0001/- on account of receipt of Unsecured loans of ₹ 1,00,0 1,0001/- 3. Whether on facts and circumstances of the case and in law ITAT was justified in deleting the addition of ₹ 15,00,000/- u/s 68 received as earnest money without any evidence of agreement?
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