No section 68 additions if assessee proved that amount introduced as capital or premium belongs to assessee itself

INCOME TAX : Where Assessing Officer made an addition on account of bogus purchases on basis of statement of managing director of assessee-company during search, however, entire purchase and sale transactions were duly recorded in regular books of account of all parties concerned and were routed through regular banking channels and, since no incriminating documents were found in course of search, impugned addition was to be deleted

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