2012 (2) TMI 529

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..... shareholders, their PAN/GIR number, so also the name of the Bank from which the alleged investors received money as share application, then, it cannot be termed as "bogus". Tribunal's finding that there is no justification in the addition made under Section 68 of the Income Tax Act, 1961 neither suffers from any perversity nor gives rise to any substantial question of law. - TAX APPEAL NO. 16 OF .....

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..... ties have got all the details, including the names and addresses of the shareholders, their PAN/GIR number, so also the name of the Bank from which the alleged investors received money as share application, then, it cannot be termed as bogus . The controversy is covered by the judgments rendered by the Hon'ble Supreme Court in the case of Lovely Exports Pvt. Ltd., vs. CIT, (2008) 216 CTR (SC) .....

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