Section 68 Income Tax Act: Assessee Must Explain Unexplained Cash Credits from 41 Investor Companies in Share Application.

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....Addition u/s 68 - unexplained cash credit - The claim of the assessee company of having received share application money from the 41 share applicant/subscriber companies did further cast an obligation upon it to mandatorily supplement the same with the explanations of the respective investor companies about the nature and source of such sum credited against their names in the books of account of the assessee company - AT....