2010 (3) TMI 239

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....appellant M. M. KUMAR, J. The Revenue has approached this Court under Section 260A of the Income Tax Act, 1961 (for brevity 'the Act') challenging order dated 26.2.2009 (P.3) passed by the Income Tax Appellate Tribunal, Chandigarh Bench "B",Chandigarh (for brevity 'the Tribunal') in ITA No. 558/CHD/2008 in respect of the assessment year 2005-06. The Tribunal on the basis of the judgements of....

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.... their respective balance sheets. It is in the aforesaid facts and circumstances that the Tribunal reached the conclusion that no addition under Section 68 of the Act could have been made and the Assessing Officer could have resorted to reopening the individual assessment of the share applicants /share holders holders applicants as has been held by Hon'ble the Supreme Court in the aforesaid judgem....