Dismissing the appeal the Court held that  Revision order passed by the CIT   setting aside assessment order with a direction for requisite inquiries doubting said share capital raised with such high premium. Referred  Pragati Financial Management (P.) Ltd. v. CIT (2017) 394 ITR 27 (Cal)(HC) and held that even under non-amended provisions of section 68 prior to insertion of proviso to section 68, which was added by Finance Act, 2012, providing for enquiry of sum credited by assessee, an Income-tax Officer was not precluded from making an inquiry as to true nature and source of sum found credited in books even if same was credited as receipt of share application money. (AY. 2009-10)