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2022 (11) TMI 1252 - ITAT DELHIAddition on account of share application money by invoking the provision u/s 68 - HELD THAT:- The appellant undoubtedly has failed in course of assessment and appellate proceedings to establish the identity and creditworthiness of the so-called share applicants and genuineness of transactions. AO has rightly invoked the provisions of the section 68 to make addition on account of share application money and added it back to the total income of the appellant. Thus, hold that the action of the AO in making addition on account of share application money is justified and therefore the addition u/s 68 made by the AO is confirmed. Appeal of the assessee is dismissed.
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