Case Law Details
Case Name : ITO Vs Pansu Commercial Pvt. Ltd. (ITAT Kolkata)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Kolkata
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
ITO Vs Pansu Commercial Pvt. Ltd. (ITAT Kolkata)
We hold that the ld. AO had erroneously invoked the provisions of section 68 of the Act, to the facts of the assessee`s case, which, in our considered opinion, are not at all applicable herein. This is a simple case of acquiring shares of certain companies from certain shareholders without paying any cash consideration and instead the consideration was settled through issuance of shares to the respective parties. Hence, we hold that provision of section 68 of the Act are not applicable in the inst Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.