https://www.taxtmi.com/caselaws?id=345192 The court upheld the addition under Section 68 of the Income Tax Act for share application money received, making an addition of Rs. 4,50,000 and deleting Rs. 3,00,000 related to one investor. The court found discrepancies in creditworthiness and timing of transactions, concluding that the transactions were not genuine. The appeal was partly allowed, with the order pronouncing the addition and deletion of specific amounts for different investors. en-us Tue, 11 Apr 2017 00:00:00 +0530 Mon, 10 Jul 2017 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345192 The court upheld the addition under Section 68 of the Income Tax Act for share application money received, making an addition of Rs. 4,50,000 and deleting Rs. 3,00,000 related to one investor. The court found discrepancies in creditworthiness and timing of transactions, concluding that the transactions were not genuine. The appeal was partly allowed, with the order pronouncing the addition and deletion of specific amounts for different investors. Case-Laws Income Tax Tue, 11 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345192