No addition u/s. 68 if assessee proves the genuineness of transaction

HIGH COURT OF DELHI Commissioner of Income-tax versus Gangeshwari Metal (P.) Ltd. IT Appeal No. 597 OF 2012 January 21, 2012 JUDGMENT Badar Durrez Ahmed, J. (Oral) In this appeal the following question of law has been framed for our consideration by virtue of the order dated 16.10.2011: – “Whether the Tribunal by the impugned order dated 19.12.2011 fell into error in upholding the order of the appellate commissioner which directed deletion of Rs. 55,50,000/- added on account of unexplained share application, added by the Assessing Officer in the case of the assess...