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2020 (3) TMI 1141 - AT - Income TaxUnexplained cash credit u/s 68 - share capital and share premium received by the assessee during the year under consideration - HELD THAT:- When the cash did not pass at any stage and since the respective parties did not receive cash nor did pay any cash, there was no real credit of cash in the cash book and the question of inclusion of the amount of the entry as unexplained cash credit could not arise. In our opinion, the ratio of this decision of the Hon’ble Jurisdictional High Court in the case of Jatia Investment Co. [1992 (8) TMI 16 - CALCUTTA HIGH COURT] is squarely applicable in the facts of the present case and the Ld. CIT(A) was fully justified in deleting the addition made by the AO u/s 68 by holding that the said provision was not applicable. - Decided in favour of assessee.
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