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2018 (6) TMI 1315 - AT - Income TaxShare capital as unexplained credit - addition u/s. 68 - Held that:- The appellant's claims with regard to the subscription of share capital are duly supported by necessary evidence. On the other hand, there is no evidence with the revenue to indicate that the share capital subscribed / loans raised is not genuine. Even in the search and seizure conducted on the appellant, no such evidence could be unearthed. Thus the addition of share capital as unexplained credits is not legally sustainable and is deleted- decided in favour of assessee.
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