https://www.taxtmi.com/caselaws?id=192733 The Tribunal upheld the addition of share application money under Section 68 of the Act in the case. Despite the assessee's contentions and evidence of some payments by cheques, incomplete information and suspicious nature of transactions led to the conclusion that the share application money could be unaccounted income. The Tribunal found it implausible that agriculturists would invest without future benefits, and emphasized the failure to prove the identities of share applicants. As previous decisions were distinguished, and with unserved notices and absent share applicants, the appeal was dismissed, affirming the addition of share application money. en-us Thu, 02 Mar 2017 00:00:00 +0530 Thu, 15 Jun 2017 07:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192733 The Tribunal upheld the addition of share application money under Section 68 of the Act in the case. Despite the assessee's contentions and evidence of some payments by cheques, incomplete information and suspicious nature of transactions led to the conclusion that the share application money could be unaccounted income. The Tribunal found it implausible that agriculturists would invest without future benefits, and emphasized the failure to prove the identities of share applicants. As previous decisions were distinguished, and with unserved notices and absent share applicants, the appeal was dismissed, affirming the addition of share application money. Case-Laws Income Tax Thu, 02 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192733