In the result, appeal of the assessee for AY 2012-13 is allowed and appeal for AY 2013-14 is partly allowed
Bench: Shri Sanjay Garg & Shri Girish Agrawal
credit u/s 68 of the Act on the specious ground of unexplained share application money with premium received during the relevant previous year in spite of the fact that the Ld. A.O. in his subsequent remand report submitted to the then Ld. CIT(A) after scrutiny of the documents, audited accounts etc. had mostly accepted the source of the fund