https://www.taxtmi.com/caselaws?id=11100 The High Court upheld the Tribunal's decision in favor of the assessee, following the principle established in a similar case involving Steller Investment Ltd. The Supreme Court affirmed the High Court's decision, stating that no interference was warranted based on the Tribunal's factual findings. Consequently, the reference was disposed of in line with the Supreme Court's ruling, emphasizing that increased share capital cannot be treated as undisclosed income, even if some subscribers were found to be bogus. en-us Tue, 20 Jan 2004 00:00:00 +0530 Fri, 31 Jul 2009 08:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11100 The High Court upheld the Tribunal's decision in favor of the assessee, following the principle established in a similar case involving Steller Investment Ltd. The Supreme Court affirmed the High Court's decision, stating that no interference was warranted based on the Tribunal's factual findings. Consequently, the reference was disposed of in line with the Supreme Court's ruling, emphasizing that increased share capital cannot be treated as undisclosed income, even if some subscribers were found to be bogus. Case-Laws Income Tax Tue, 20 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11100