2010 (5) TMI 885 - HC - Income Tax

Summary

The Delhi High Court dismissed the appeal against the Income Tax Appellate Tribunal's order regarding the addition of Rs. 19.5 lakhs on account of alleged accommodation entries for the assessment year 1999-2000. The court found that the share application money received from various companies was legitimate, as the identities of the share applicants were established with supporting documents and payments were made through normal banking channels. No substantial question of law arose for consideration.