Section in contradiction plz help

Sec 68 of income tax act says tht if there exist any unexpalined cash credit then in that case it will be added in to the income of the assesee...if the assessee is not able to proove the source from where the money has been received it will be included in the income of the assesee...but I have gone thru a case LOVELY EXPORTS (supreme court) held that if AO finds that the the share application money received by assessee company is from alleged bogus shareholders then he can open the individual cases of them but that share application money can not be added to the income of the assessee company....!! I have a problem even if the cases of the individuals are open how it can be possible becoz the shareholders are bogus..may be not in existence...plz plz suggest...its urgent...??? In my opinion it would be included in the income of the assessee company...!!