Section 68 Dispute: CIT-A Criticized for Lack of Reasoning on Unexplained Share Application Money from Six Companies.

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....Addition u/s 68 - share application money received from 6 different companies unexplained - The learned CIT-A did not utter a word in his whole order that what would be the reason for surrender of the sum by the assessee and forfeiture of the share application money immediately in the succeeding year. Therefore we completely agree with the argument of the learned departmental representative that the order of the learned CIT – A does not have any legs to stand. - AT....