Bulk Sale Discount Valid: Reason Tax Authorities Cannot Force a ‘Uniform Price’ on Share Transactions

Park View Automotive P. Ltd Vs ITO (ITAT Delhi) AO’s Hypothetical Price Falls Flat: ITAT Favors Commercial Reality- No Evidence, No Addition: Tribunal Rejects ‘Uniform Price’ Fantasy This case arose from a reopening of assessment u/s 147 based entirely on an Investigation Wing report alleging a large-scale accommodation entry scheme involving the shares of Purti Power & Sugar Ltd. (PPSL) & certain Mehta Group entities. The report mentioned layering of funds & circular trading of PPSL shares through multiple shell companies. Assessee, however, was not part of the Mehta Group, ...