The return was selected for scrutiny & AO noticed that Assessee had raised share application money of Rs.70 lakh & share premium of Rs.6.40 lakh. In respect of Rs.70 lakh received as share application money in the year under consideration, AO had issued notices u/s 133(6) to the share applicants. Accordingly, Tribunal deleted Rs.6.40 lakh addition outright & restored the issue of Rs.70 lakh share application money to AO for fresh adjudication. Insofar as, share application money of Rs. 70,00,000/-, which was received during the year under consideration, the assessee as accepted share application money from the following parties:-6.