TMI Blog2010 (3) TMI 239X X X X Extracts X X X X X X X X Extracts X X X X ..... dent firm especially when the assessee had received the impugned amount in the form of share application money which was duly confirmed by the share applicant - . The proper course for the Assessing Officer could have been to re-open the assessment of the share applicants/ share holders rather than making addition against the assessee- respondent. – Revenue appeal dismissed - 704 of 2009 - - - Da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... share holder is disclosed then no addition can be made under Section 68 of the Act in the hands of the assessee- respondent firm especially when the assessee had received the impugned amount in the form of share application money which was duly confirmed by the share applicant. From the order of the CIT (A) it is clear that both the companies M/s AFSL and M/s ACSL have made investment in the share ..... X X X X Extracts X X X X X X X X Extracts X X X X
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