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Ground of appeal raised by the revenue is that on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was erred in directing the deletion of the sum brought to tax by the AO as unexplained income under section 68 of the Income-tax Act, 1961 in respect of moneys credited in the books as share premium of Rs. 7,30,78,750/-

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Section 68 of the Income-tax Act, 1961—Cash credit—Addition made under section 68 were deleted as assessee has duly submitted all the necessary documents for the verification of the identity creditworthiness and genuineness of the share applicants - ITO V/s SINGHAL GENERAL TRADERS (P.) LTD. - [2020] 183 ITD 397 (ITAT-MUMBAI)

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