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Bulk Sale Discount Valid: Reason Tax Authorities Cannot Force a ‘Uniform Price’ on Share Transactions
Case Law Details
- Case Name
- Park View Automotive P. Ltd Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Delhi
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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, ...
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