AO on basis of documents seized during search conducted at premises of another company issued notice  to provide details of share capital and share preimum obtained by assessee in financial years 2009-10 to 2011-12 and also requested  to produce controlling persons of share applicant companies along with supportive documentary evidence for examination. Assessee  filed certain parties’ details, failed to produce controlling persons. AO conducted field enquiries in respect of share applicant companies revealed that such companies never existed in given addresses.  The AO held that these companies were nothing but paper companies created to conduit companies to facilitate these type of transactions accordingly made addition u/s 68 of the Act . CIT (A) confirmed the addition . On appeal the Appellate Tribunal held that on facts the  AO rightly  inferred that assessee had rooted its own money through bogus companies; thus, addition was affirmed . (AY. 2010 -11, 2012 -13)