2019 (2) TMI 1755

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....rected against the order dated 25.4.2013 passed by learned CIT(A)-50, Mumbai and it relates to A.Y. 2006-07. The Revenue is aggrieved by the decision of learned CIT(A) in deleting the addition of Rs. 3532.20 lakhs relating to Share application money received by the assessee. 2. We have heard the parties and perused the record. The assessee is engaged in the business of manufacture of crystal ite....

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....ecision of Hon'ble Bombay High Court in the case of CIT Vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 58 taxman.com 78, the assessee contended that the Assessing Officer could not have made any addition in the case of unabated assessment, for which no incriminating material was found during the course of search. Learned CIT(A) was convinced with the contention of the assess....