Starland Vinimay Pvt. Ltd vs ITO

Whether addition of Rs. 1,71,00,000 as unexplained cash credit under section 68 of the Income Tax Act, 1961, on account of share capital and share premium received from shareholders, was justified when the assessee had furnished documents proving identity, creditworthiness, and genuineness of transactions, and the Assessing Officer failed to conduct independent inquiry --- Held No.

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