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2023 (7) TMI 1048 - HC - Income TaxAddition u/s 68 - Bogus investment receipts - undisclosed income in the hands of the assessee - HELD THAT:- The undisputed facts narrated hereinabove clearly show that the Revenue has issued notices to all nineteen companies. The Companies have appeared before the ADIT and submitted their papers and in the case of Matajwala Infrastructure, addition has been made by the Revenue. In the case on hand, the identity of the investors have been established. They have appeared before the authority and submitted the records showing the source of income. In the facts of this case, additions made by the Revenue are not sustainable. - Decided in favour of assessee.
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