Allowing the appeal of the assesse the Tribunal held that , The assesse explained the source of money received and was not answerable for source of the money in the hands of investors .Addition if any can be made in the hands of the investors and not in the assessment of the assessee. ( AY. 2012-13 )
Prachan Fashion House P. Ltd v. ITO ( 2018) 63 ITR ( Trib) (S.N.) 54 (SMC)(Delhi) ( Trib)
S. 68: Cash credits- Share application- The assesse explained the source of money received and was not answerable for source of the money in the hands of investors .