1.   COMMISSIONER OF INCOME TAX Vs. RAGHVI FINANCE LTD. [HIGH COURT OF DELHI]

The learned counsel for the Revenue submitted that the Tribunal had erred in law  in deleting the addition of Rs 25,05,000/- made by the Assessing Officer on  account of unexplained share capital under Section 68 of  Act, 1961. Held the  share application money cannot be regarded as undisclosed income of  assessee under Section 68 of Act, 1961.

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2.   COMMISSIONER OF INCOME TAX Vs. M/S. ORBITAL   COMMUNICATION (P) LTD. [HIGH COURT OF DELHI]

The learned counsel for the Revenue submitted that the Tribunal had erred in  deleting the addition of Rs.1,70,00,000/- made by the Assessing Officer on  account of share application money received by the respondent-assessee  during the period under consideration.

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3.   COMMISSIONER OF INCOME TAX-II Vs. MOONLIGHT EXIM P. LTD [HIGH COURT OF DELHI]

The learned counsel for the Revenue submitted that the Tribunal had erred in  deleting the addition of Rs.12,50,000/- on account of unexplained credit  under Section 68 of the Act, 1961. He  further submitted that the Tribunal  had erred in restoring the matter for fresh adjudication to the Assessing  Officer in respect of addition of Rs.5,00,000/- as unexplained credit under Section 68 of the Act, 1961.

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