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2010 (9) TMI 183 - HC - Income TaxUndisclosed income - AO made the addition u/s 68 of the Act - amounts were received from the alleged entry operators - appellant furnished the documents like names and addresses of the share applicants, their income tax particulars and bank particulars along with the confirmation about making investments in the appellant company and copies of their income tax returns/audited statement of accounts duly reflecting the investments made by them in the appellant company – Held that: - share application money, in the present case, cannot be regarded as undisclosed income of the assessee under Section 68 of the Act, 1961 – Appeal is dismissed.
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