Additions u/s 68 cannot be made merely because the affidavits filed by share subscribers were not attested by first class magistrate

 ITO Vs. Gay Loard Industries Ltd. I.T.A. No. 2004/ Ahd/2008 (Assessment year- 1996- 97 ) Decided by- ITAT Ahemdabad Decided on – 17th June 2011 O R D E R PER SHRI D. K. TYAGI, JM: This is the revenue’s appeal filed against the order dated 14.03.2008 of CIT(A) VIII, Ahmedabad for the assessment year 1996- 97.   The revenue has raised the following grounds of appeal: “1. The Ld.ClT(A) has erred in law and on the facts of the case in deleting the addition of Rs.95,22,3507-, in respect of increase in share capital. 5. On the facts and in the circumstances of the c...