Section 68: No Additions Made After Officer Fails to Inquire on Disclosed Share Applicants Amid Financial Struggles.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 68 - share application money - To tide over its financial sickness, apparently, it sought the help of the share applicants. The identity of those share applicants was clearly revealed - O did not conduct any further enquiry except resting his conclusions on surmises - No additions - HC....