https://www.taxtmi.com/caselaws?id=185626 The ITAT upheld the Commissioner (Appeals)'s decision to delete the addition of Rs. 8,28,000 under section 68 of the Income-tax Act related to share application money received by the assessee-company. The ITAT found that the share holders were genuine and had confirmed their investments, emphasizing that even if the subscribers were not genuine, the share capital could not be treated as undisclosed income. Therefore, the ITAT dismissed the revenue's appeal, affirming the deletion of the addition under section 68. en-us Tue, 18 Jun 2002 00:00:00 +0530 Mon, 22 Aug 2016 12:15:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185626 The ITAT upheld the Commissioner (Appeals)'s decision to delete the addition of Rs. 8,28,000 under section 68 of the Income-tax Act related to share application money received by the assessee-company. The ITAT found that the share holders were genuine and had confirmed their investments, emphasizing that even if the subscribers were not genuine, the share capital could not be treated as undisclosed income. Therefore, the ITAT dismissed the revenue's appeal, affirming the deletion of the addition under section 68. Case-Laws Income Tax Tue, 18 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185626