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2004 (1) TMI 41 - HC - Income Tax"Whether the Tribunal was right in coming to the conclusion that the provisions of section 263, had not been rightly invoked by Commissioner?" - increased share capital – undisclosed income – allegation of bogus shareholders - If the assessment of the persons who are alleged to have really advanced the money is sought to be reopened, that would have made some sense but we fail to understand as to how this amount of increased share capital can be assessed in the hands of the company itself - Assessing Officer did not make any enquiries with regard to the genuineness of the subscribers to the share capital - Tribunal came to a conclusion on facts and no interference is called for – Revenue appeal dismissed
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