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2015 (8) TMI 653 - AT - Income TaxReassessment under section 148 - accommodation entry of share capital and making additions of amounts - Held that:- As the assessee has produced evidences in support of this claim and as the AO has not conducted any investigation nor collected any evidence to controvert the claim of the assessee in our view the additions are bad in law. See Ranbaxy Laboratories Ltd. v. Commissioner of Income-tax [2011 (6) TMI 4 - DELHI HIGH COURT], CIT v. Living Media India Ltd. [2013 (6) TMI 128 - DELHI HIGH COURT],Jay Bharat Maruti Ltd. v. CIT [2009 (4) TMI 12 - DELHI HIGH COURT], Vipan Khanna v. CIT [2000 (7) TMI 2 - PUNJAB AND HARYANA High Court] and Travancore Cements Ltd vs ACIT [2006 (9) TMI 174 - KERALA HIGH COURT] and CIT vs. Lovely Exports [2008 (1) TMI 575 - SUPREME COURT OF INDIA] .Thus we allow the appeal of the assessee. - Decided in favour of assessee.
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