This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Share Allotment to Settle Liability Not amounts to Unexplained Cash Credit: Calcutta HC
Case Law Details
- Case Name
- PCIT Vs Vishnu Distributors Pvt Limited (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All High Courts, Calcutta High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
PCIT Vs Vishnu Distributors Pvt Limited (Calcutta High Court)
Calcutta High Court has dismissed an appeal filed by the Principal Commissioner of Income Tax (PCIT) against Vishnu Distributors Pvt. Limited, upholding the Income Tax Appellate Tribunal’s (ITAT) decision to delete an addition of Rs. 3,98,44,628/- on account of unexplained share capital and share premium for the assessment year 2012-13. The High Court found no substantial question of law warranting its intervention.
The appeal, filed under Section 260A of the Income Tax Act, 1961, initially faced a delay of 98 days, which the ...
