PCIT VS. NDR PROMOTERS PVT. LTD (DELHI HIGH COURT)
ITA 49/2018
17-01-2019
S. 68 Bogus share capital in form of accommodation entries: The transactions are
clearly sham and make-believe with excellent paper work to camouflage their
bogus nature. The reasoning is contrary to human probabilities. In the normal
course of conduct, no one will make investment of such huge amounts without
being concerned about the return and safety of such investment. The Tribunal’s
order is clearly superficial and adopts a perfunctory approach and ignores
evidence and material referred to in the assessment order.
