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Section 68: AO's Rejection of Assessee's Share Capital Explanation Deemed Unjustified Due to Lack of Further Inquiry.
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Addition u/s 68 - receipt of share capital - assessee having furnished the complete details of the 5 parties necessary for proving their identity, genuineness and creditworthiness, it was for the AO to have made further inquiries if he were to doubt those details - Without undertaking that exercise, the AO is not justified in rejecting the explanation offered by the Assessee - no addition