2018 (8) TMI 1552

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....dv.   Respondent Through : None   O R D E R 1. The revenue is aggrieved by the ITAT's decision upholding deletion of the sum of  Rs. 1,14,02,600/- under Section 68. The assessee's returns were processed under Section 143(1). Urging the failure to disclose the material and particulars, re-assessment was resorted to. During the course of the re-assessment, the Assessing Offic....

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....(2014) 367 ITR 306. It was submitted that the Assessing Officer, on analysis of the bank statements, correctly surmised that the transactions towards share application deposits were not genuine transactions and correctly brought the amounts to tax under Section 68. 3. The CIT(A) and the ITAT reconsidered the materials on the record and upon their overall analysis formed the opinion that the app....