No Sec. 68 additions if SEBI didn't hold that listed Co. from which assessee took loan was a bogus Co.

INCOME TAX: Where AO made addition to assessee's income under section 68 on ground that assessee had taken accommodation entry from a penny stock company i.e. 'U' Ltd., in view of fact that there was no reference whatsoever to fact that SEBI had held 'U' Ltd. to be a bogus/sham company for its activities during relevant period, impugned addition was to be set aside

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