Assessee was engaged in business of dealing in property and trading in shares and stock.  Assessing Officer held that in relevant previous year assessee had received an amount from one shareholder as share application money but had failed to discharge onus of establishing genuineness of transaction and creditworthiness of same and treated said amount as unexplained cash credit. Commissioner (Appeals) held that substantial part of said sum was received in earlier assessment year and, thus, it could not be added in impugned assessment year and also held that as regards balance sum, sufficient evidence was produced in respect of identity and genuineness of shareholder and he, accordingly, deleted said addition. Tribunal confirmed the order of CIT (A). On appeal by the revenue High Court affirmed the order of the Tribunal. (AY. 2007-08)