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2022 (2) TMI 440 - HC - Income TaxRevision u/s 263 - addition on account of share capital/premium can be made under Section 68 in the first year of incorporation/business - Whether reassessment order passed by the Assessing Officer is not erroneous as well as not prejudicial to the interest of the revenue on the issue of share capital/premium when no addition can be made under Section 68? - HELD THAT:- The very same substantial questions of law and the said appeal was dismissed by this Court in the case of Rajmandir Estates Private Limited -versus- Principal Commissioner of Income Tax [2016 (5) TMI 801 - CALCUTTA HIGH COURT] - excepting the substantial question of law no.(a), which was left open, all other questions of law are decided against the assessee. Substantial question no.(a) is left open - Whether the Learned Tribunal was justified in holding that the first proviso to Section 68 which has been inserted by the Finance Act, 2012 w.e.f.1.4.2013 applies to the Assessment Year:2009-10?
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