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of Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of share applicants established. Book value per share higher than share premium charged. Source of share application money already taxed in hands of share applicants, hence no justification for invoking Sec. 68. ITAT ruled in favor of assessee relying on Mahaveer Kumar Jain [2018 (4) TMI 1078 - SC] to avoid double taxation.
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