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of Unexplained cash credit u/s 68 - The Court highlighted that transactions appeared to be staged to mask the reintroduction of the same funds as fresh capital, which is a common practice in round-tripping schemes. The court criticized the Tribunal for overlooking this critical aspect, emphasizing that the investments were made at an unjustifiably high premium without any real financial rationale, and followed a pattern typical of shell companies. - The High Court set aside the Tribunal’s ruling and restored the decision of the CIT(A), which recognized the transactions as a means of round-tripping funds.
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