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Court Rules Share Capital Increase Not Unexplained Cash Credits u/s 68; No Cash Involved in Share Allotment.

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....Addition u/s 68 - addition in share capital and share premium, identity and creditworthiness of the share holders, valuation report - Since no cash was involved in transaction of said allotment of shares, conversion of these liabilities into share capital and share premium could not be treated as unexplained cash credits u/s 68 - AT....

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