2018 (11) TMI 1492

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....tions of additions made by the assessing officer by the learned ITAT vide order dated 08.12.2017. The assessee was asked to prove genuineness of the transactions shown in the form of share application money. The assessee filed evidence to show of the companies from which he was receiving share company money. The said companies were operated by Shri Praveen Kumar Jain. The Assessing Authority foun....

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.... it required consideration as to whether the ITAT was justified in confirming the order of CIT deleting the addition on account of bogus share application money of the assessee. After hearing the learned counsel for the appellant and going through the various orders passed by the authorities concerned, we find that A.O. had made additions merely on the statement of Shri Praveen Kumar and Shri Utt....