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2018 (8) TMI 866 - HC - Income TaxAdditions u/s 68 - allotment of share capital - It is stated that when liability has been created equal to amount of assets transferred and shares allotted in settlement of this liability, there can be no addition under Section 68 of the said Act as unexplained cash credit - tribunal further held that, value of shares allotted to individuals would amount to unexplained cash credit - Held that:- Additions confirmed by the tribunal deleted - Decided in favor of assessee.
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