https://www.taxtmi.com/caselaws?id=432906 Section 68 requires a sum to be found credited in the assessee's books in the relevant previous year; where share application money was received and verified in an earlier year, and only share allotment was recorded in the year under review, the provision does not apply in that later year. The transaction had already been supported by cheque details, bank statements, scrutiny assessment records, and the investor's confirmation under section 133(6). On that basis, the addition for the year under consideration was not sustainable and stood deleted. en-us Fri, 30 Dec 2022 00:00:00 +0530 Tue, 17 Jan 2023 06:33:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432906 Section 68 requires a sum to be found credited in the assessee's books in the relevant previous year; where share application money was received and verified in an earlier year, and only share allotment was recorded in the year under review, the provision does not apply in that later year. The transaction had already been supported by cheque details, bank statements, scrutiny assessment records, and the investor's confirmation under section 133(6). On that basis, the addition for the year under consideration was not sustainable and stood deleted. Case-Laws Income Tax Fri, 30 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432906