https://www.taxtmi.com/caselaws?id=182944 The Tribunal allowed both appeals, finding the addition of bogus share application money unjustified under Section 68 of the Income Tax Act. The affidavits submitted by the assessee were deemed unchallengeable, proving the identity and source of the share subscribers. Consequently, the charging of interest under Section 234B was considered irrelevant and not leviable. The appeals were allowed, and the order was pronounced on 10th May 2010. en-us Mon, 10 May 2010 00:00:00 +0530 Wed, 27 Sep 2023 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182944 The Tribunal allowed both appeals, finding the addition of bogus share application money unjustified under Section 68 of the Income Tax Act. The affidavits submitted by the assessee were deemed unchallengeable, proving the identity and source of the share subscribers. Consequently, the charging of interest under Section 234B was considered irrelevant and not leviable. The appeals were allowed, and the order was pronounced on 10th May 2010. Case-Laws Income Tax Mon, 10 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182944