2010 (2) TMI 1209

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....ax Appellate Tribunal's order dated 22.05.2009 in ITA 3728/Del/2008. The only issue sought to be raised by the revenue is with regard to the deletion of the addition in respect of the share application money to the extent of Rs?81,40,000/- under Section 68 of the Income Tax Act, 1961. The Assessing Officer had made an addition of ₹ 88,40,000/- under the said Section 68 after treating the s....

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....hare application money was treated as unexplained by the Commissioner of Income Tax (Appeals) and the addition to that extent was sustained. However, in respect of the share application money to the extent of ₹ 81,40,000/- received from other parties, the Commissioner of Income Tax (Appeals) deleted the said addition because of the fact that the assessee had filed confirmation letters from t....