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2014 (2) TMI 938 - AT - Income TaxAddition u/s 68 of the Act set aside – Validity of Admission of additional evidences under Rule 46A of the Rules – Held that:- The assessee has failed to submit the relevant documents before the AO – though, he has submitted some details before the CIT(A) - As regards the contention of the assessee that the amount was received as share application money, it is a matter of factual verification - If the assessee has only received Rs. 12,00,000/- share application money during financial year 2006-07, AO can consider only the said amount u/s. 68 of the IT Act for A.Y. 2007-08 - Rest amount cannot be considered in the current year as share application money receipt under section 68 of the I.T. Act – thus, the matter remitted back to AO for fresh adjudication.
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