SECTION 68/INCOME-TAX ACT

[2008] 166 TAXMAN 7 (ALL.)

HIGH COURT OF ALLAHABAD

Jaya Securities Ltd.

v.

Commissioner of Income-tax-II, Kanpur

R.K. AGRAWAL AND BHARATI SAPRU, JJ.

IT APPEAL NO. 328 OF 2005

MAY 15, 2007

Section 68 of the Income-tax Act, 1961 - Cash credits - Assessment years 1996-97 and 1997-98 - Whether any addition under section 68 can be made in respect of investment made by different persons in share capital of assessee-company, limited by shares, whether public or private - Held, no