2016 (10) TMI 1061

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..... anies to which shares were allotted? 2. Whether on facts and circumstances of the case, ITAT was justified in upholding the order of CIT(A) by reducing the addition u/s 68 to ₹ 5,01,0001/- on account of receipt of Unsecured loans of ₹ 1,00,0 1,0001/- 3. Whether on facts and circumstances of the case and in law ITAT was justified in deleting the addition of ₹ 15,00,000/- u/s .....

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..... 8377; 1,96,920/- under Section 50C(1) of the Income Tax Act. In respect of both these, the assessee was able to rely on an adequate and reasonable material which satisfies the Income Tax Appellate Tribunal (ITAT). In the circumstances, no question of law arises. Admit. Mr. Sumit Lalchandani, Advocate appearing on behalf of the respondent accepts notice. As far as the other issues are conc .....

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