https://www.taxtmi.com/caselaws?id=178001 The appeal challenging the ITAT's order deleting the addition of unexplained share application money under section 68 of the Income Tax Act for Assessment Year 2005-2006 was dismissed. The ITAT upheld the deletion based on the share applicant's payment through cheques from its current account, following legal precedents that share application money cannot be treated as undisclosed income under section 68. The appeal was dismissed without costs. en-us Thu, 12 Aug 2010 00:00:00 +0530 Mon, 25 Jan 2016 16:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178001 The appeal challenging the ITAT's order deleting the addition of unexplained share application money under section 68 of the Income Tax Act for Assessment Year 2005-2006 was dismissed. The ITAT upheld the deletion based on the share applicant's payment through cheques from its current account, following legal precedents that share application money cannot be treated as undisclosed income under section 68. The appeal was dismissed without costs. Case-Laws Income Tax Thu, 12 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178001