https://www.taxtmi.com/caselaws?id=118037 The Appellate Tribunal allowed the appeal, ruling in favor of the assessee and rejecting the addition of share application money under section 68. The Tribunal relied on the precedent set by the Supreme Court in a similar case, emphasizing that an increase in subscribed capital does not constitute undisclosed income even if subscriber genuineness is in question. By aligning with higher court decisions, the Tribunal concluded that the Steller case applied to private limited companies as well, ultimately deciding in favor of the assessee based on established legal principles. en-us Tue, 15 Jun 2004 00:00:00 +0530 Thu, 28 Jun 2012 10:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118037 The Appellate Tribunal allowed the appeal, ruling in favor of the assessee and rejecting the addition of share application money under section 68. The Tribunal relied on the precedent set by the Supreme Court in a similar case, emphasizing that an increase in subscribed capital does not constitute undisclosed income even if subscriber genuineness is in question. By aligning with higher court decisions, the Tribunal concluded that the Steller case applied to private limited companies as well, ultimately deciding in favor of the assessee based on established legal principles. Case-Laws Income Tax Tue, 15 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118037