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2016 (9) TMI 333 - HC - Income TaxAddition u/s 68 - suspected investments and share application money - Held that:- We are of the opinion that the CIT(A)’s order – which stands confirmed by the ITAT is both sound and unexceptionable having regard to the principle applicable to Section 68 and the circumstances under which investments and share application money is deemed suspect. In the present case, the share applicant’s identity was disclosed and the source of his funds was also proved. That the AO did not deem it appropriate to probe further did not mean that the incomes were liable to be treated under Section 68. The appeal does not raise any substantial question of law
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