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2010 (8) TMI 72 - HC - Income TaxUnexplained share capital - addition u/s 68 - CIT(A) and Tribunal deleted the addition on the ground that the respondent-assessee had proved identity of the share applicants as well as payments had been received through account payee cheques and the share applicants were assessed to income tax - Held that: - the share application money cannot be regarded as undisclosed income of assessee under Section 68 of Act, 1961
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