https://www.taxtmi.com/caselaws?id=184956 The Tribunal upheld the CIT(Appeals) decision to delete the addition u/s 68 concerning the increase in equity share capital and share premium of the assessee. Relying on Supreme Court precedents, it was held that share application money from alleged bogus shareholders does not amount to undisclosed income. The Tribunal emphasized adherence to the Supreme Court's rulings nationwide and dismissed the Revenue's appeal for assessment year 2005-06. en-us Fri, 04 Jun 2010 00:00:00 +0530 Tue, 26 Jul 2016 15:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184956 The Tribunal upheld the CIT(Appeals) decision to delete the addition u/s 68 concerning the increase in equity share capital and share premium of the assessee. Relying on Supreme Court precedents, it was held that share application money from alleged bogus shareholders does not amount to undisclosed income. The Tribunal emphasized adherence to the Supreme Court's rulings nationwide and dismissed the Revenue's appeal for assessment year 2005-06. Case-Laws Income Tax Fri, 04 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184956