The assessee issued the share of Rs 10 at premium of Rs.390. The AO trated the share application amount as unaccounted cash credits on the ground that the two applicant companies were controlled by Shri Praveen Kumar Jain .  CIT (A) deleted the addition. On appeal by the revenue  the Tribunbal held that  authorities have not done even the bare minimum for verifying the genuineness of the transaction.  Casual approach cannot be subscribed on our part of the authorities to have carried out an in-depth verification of the genuineness of the transaction of receipt of share application money by the assessee from the said parties .As the share applicant companies were controlled by an infamous accommodation entry provider, it was incumbent on the part of the authorities to have carried out an in-depth verification of the genuineness of the transaction of receipt of share application money by the assessee from the said parties. Matter is set aside for indepth verification . (CIT v.NRA Iron & Steel Pvt Ltd (2019 )412 ITR 161 (SC) followed) ( ITA No.4589/Mum/2017, dt. 11.06.2019)(AY. 2012-13)