https://www.taxtmi.com/caselaws?id=201423 The High Court upheld the Tribunal's decision to delete the addition of unexplained share application money under Section 68 of the Income Tax Act, 1961. Emphasizing the importance of establishing shareholder identity, the court cited precedents and concluded that the share application money cannot be deemed undisclosed income. The appeal was dismissed for lacking merit, with the court relying on consistent findings and legal principles from previous judgments. en-us Fri, 01 Oct 2010 00:00:00 +0530 Fri, 07 Jan 2011 23:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201423 The High Court upheld the Tribunal's decision to delete the addition of unexplained share application money under Section 68 of the Income Tax Act, 1961. Emphasizing the importance of establishing shareholder identity, the court cited precedents and concluded that the share application money cannot be deemed undisclosed income. The appeal was dismissed for lacking merit, with the court relying on consistent findings and legal principles from previous judgments. Case-Laws Income Tax Fri, 01 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201423