Assessee allotted shares to Mr. Surinder Kumar Kaushik  towards goodwill without monetary consideration. AO made addition u/s 68. CIT(A) and ITAT deleted addition as there was no cash receipt and entry was explained. High Court  upheld deletion on the ground that since the transaction did not represent an actual receipt of any cash in hands  provisions of the section  68  were not attracted. (AY. 2015-16)