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Validity of addition for share application money merely based on surmises not valid
Case Law Details
- Case Name
- Pr. CIT Vs Narang Construction & Finance (P) Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Pr. CIT Vs Narang Construction & Finance (P) Ltd. (Delhi High Court)
The materials on record showed not mere superficial details like PAN, ROC, etc., but further facts relating to the bank accounts of the share applicants were also there. The share applicants were entering into proper commercial transactions and were not per se forged, bogus or sham investors. There was not perversity in order passed by Tribunal warranting interference of Court.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
The revenue is aggrieved by the ITAT’s decision upholding deletion of the ...
