CIT(A) Reverses Section 68 Additions: No Incriminating Material Found in Share Capital Receipts During Section 153A Assessments.

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....Assessment u/s 153A - Addition u/s 68 - Unexplained receipt of share application/share capital - After a detailed and objective scrutiny of factual & legal position, the CIT(A) has set aside and reversed the additions carried out without showing any iota of incriminating material to support the allegation of accommodation entries in the abated as well as unabated search assessments. The share application money was found to be returned. - The action of CIT(A) deleting the additions sustained - AT....