2011 (3) TMI 1638

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....EMBER This is an appeal filed by the revenue. It is directed against the order of the CIT (A) dated 12th August, 2010 for assessment year 2001- 02. Grounds of appeal read as under:- 1. That on the facts and circumstances of the case and in law the Ld. CIT (A) erred in deleting the addition of ₹ 7,00,000/- made on account of share application money u/s 68 of the Income Tax Act, 1961. 2. T....

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....llowed to add, delete or amend any other grounds of appeal. 2. As it can be seen from the grounds of appeal, the department is contesting the deletion of addition of ₹ 7 lac. It is seen that the tax effect on the present appeal excluding interest including surcharge is a sum of ₹ 2,76,850/-. The total income of the assessee as assessed by the Assessing Officer is ₹ 7,19,030/- on....