https://www.taxtmi.com/caselaws?id=75398 HC held that share application money received by a company from alleged bogus shareholders, whose identities were disclosed to the AO, cannot be treated as the company's undisclosed income under s.68; the Department may reopen assessments of the individual shareholders but not attribute that amount as the assessee-company's income. Relying on binding Supreme Court precedent and consistent appellate findings, the court found no substantial question of law and dismissed the appeal. en-us Fri, 01 May 2009 00:00:00 +0530 Thu, 04 Sep 2025 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75398 HC held that share application money received by a company from alleged bogus shareholders, whose identities were disclosed to the AO, cannot be treated as the company's undisclosed income under s.68; the Department may reopen assessments of the individual shareholders but not attribute that amount as the assessee-company's income. Relying on binding Supreme Court precedent and consistent appellate findings, the court found no substantial question of law and dismissed the appeal. Case-Laws Income Tax Fri, 01 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75398