Section 68: Share Application Money Found Legitimate; CIT(A) Confirms Sufficient Funds and Genuine Transaction.

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....Addition u/s 68 - share application monay - unaccounted money has been laundered by creating fagade of paper work - shares issued to sister concern i.e., sole share applicant/ subscriber - there can be no doubt against the identity, creditworthiness and genuineness - CIT(A) has clearly given a finding a fact that the share applicant company had enough fund for subscribing for shares in the assessee-company which factual finding have not been challenged by the Revenue/Department in this appeal, so this finding of fact crystallizes. - AT....