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2016 (6) TMI 965 - CALCUTTA HIGH COURT
Addition u/s 68 - admitted liability - addition of share capital - Held that:- The Tribunal was justified in upholding the addition on account of alleged share capital to the extent of ₹ 8,77,500/- under Section 68. A sum of ₹ 6,62,000/- had earlier been admitted by the assessee during a disclosure as submitted by Mr. Khaitan. The share capital to the extent of Rs, 9,90,000/- was accepted both by the CIT(A) and the Tribunal. We are also of the opinion that the judgement of the learned Tribunal is neither perverse nor arbitrary nor unreasonable