2004 (6) TMI 585

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..... untant Member - This appeal by the assessee is directed against the order dated 26-3-1999 passed by the ld. CIT(A) mainly confirming the addition of Rs. 3,17,000 by invoking the provisions of section 68 on account of share application money of the depositors. 2. At the outset of the appellate proceedings before us, ld. AR submitted that the issue is squarely covered in favour of the assessee and .....

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..... by the aforesaid decision. On the other hand, ld. DR submitted that the case aforesaid case cited by the ld. AR was in respect of a limited company and not private limited company, as in this case the assessee is a private limited company and, therefore, the ratio of the said case is not directly applicable. However, apart from this, she was not able to controvert the finding of the ld. AR. 8. W .....

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