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Director Admits Bogus Investments; Section 68 Additions Confirmed Due to Failure to Meet Initial Burden.

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....Addition u/s 68 - one of director of company admitted that the entire investment was bogus - Blank receipts after cash deposit were obtained from the share holders - when two Revenue authorities and the Tribunal concurrently came to the conclusion that the assessee failed to discharge the initial burden envisaged u/s 68 - additions should be confirmed as there is no perversity in findings....

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