Held that the Tribunal has rightly held that the provisions of sec.68 of the Act cannot be invoked, more particularly when the addition is made on account of the share premium and the share application money by the investors whose identity, creditworthiness and genuineness is proved by the assessee before the authority. In respect of the purchases, the Bench held that the assessee has already declared gross profit as a whole including the purchases from registered parties @ 5.76%, and therefore, if any addition is to be made, it should be the difference between the profit determined by the Assessing Officer on the URD purchases vis-a-vis the gross profit already declared by the assessee. Hence, the appeal dismissed.  Referred,  PCIT v. NRA Iron and Steel Co.(P) Ltd. (2019) 103 taxmann.com 48 (SC) / 262 Taxman 74 (SC) / 412 ITR 161 (SC) (AY. 2011-12)