1 Section 68: Cash credits-Share application money-Permanent account numbers, bank details of share applicants and affidavits of share applicant company was furnished - share application money cannot be considered as unexplained cash credits.
K. B. Bhujle, Advocate
1.Pr. CIT-4 vs. Acquatic
Remedies Pvt. Ltd [ Income tax Appeal no 83 of 2016, Dated: 30th
July, 2018 (Bombay High Court)].