TMI Blog2012 (11) TMI 1164X X X X Extracts X X X X X X X X Extracts X X X X ..... e of Steller Investment Ltd. [2000 (7) TMI 76 - SUPREME Court] That being the position, we are of the considered opinion that the order passed by the Tribunal does not suffer from any legal infirmity. - IT Appeal No. 455 of 2009 - - - Dated:- 8-11-2012 - R.K. Agrawal AND Ram Surat Ram (Maurya), JJ. Dhananjay Awasthi for the Petitioner. JUDGMENT 1. The present appeal has been file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he I.T. Act, 1961 by upholding the order of CIT(A) despite the fact that identity of the alleged shareholders, genuineness of the transaction and creditworthiness of share applications were not proved at all? (III) Whether the Ld. ITAT was justified in ignoring the decision of Hon'ble Jurisdictional High Court in the case of Ram Lal Agarwal v. CIT [2006] 280 ITR 547 (All.), whereas the deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reopening the individual assessment did not arise? 2. Briefly stated, the facts giving rise to the appeal are as follows:- The appeal relates to the Assessment Year 2005-06. During the assessment year in question, an addition of ₹ 19,00,000/- on account of share application money received from the shareholders has been made by the Assessing Authority on the ground that the respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Counsel for the appellant and have perused the three orders passed by the authorities, including that by the Tribunal and find that the matter is squarely covered by the decision of Hon'ble Supreme Court in the case of Steller Investment Ltd. (supra). That being the position, we are of the considered opinion that the order passed by the Tribunal does not suffer from any legal infirmity. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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