Section 68 Review Finds No Capital Increase Needed; Assessee Proves Source Validity with Bank Statement Evidence.

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....Addition u/s 68 - increase in share capital and share premium - As source of source is proved by the assessee in the instant case though the same is not required to be done by the assessee as per law as it stood/ applicable in this assessment year. The share applicant has confirmed the share application as well as the payments made to the assessee company, which are duly corroborated with their respective bank statements and all the payments are by account payee cheques. - no addition was warranted under Section 68 - AT....