PCIT VS. ADITYA BIRLA TELECOM LTD (BOMBAY HIGH COURT)
I T A NO. 1502 of 2016
26-03-2019
S. 68 Bogus Share Capital: Merely because the investment was considerably large
and several corporate structures were either created or came into play in
routing the investment in the assessee through a Mauritius entity would not be
sufficient to brand the transaction as colourable device. The assessee cannot be
asked to prove the source of source (PCIT Vs. NRA Iron & Steel 103 TM.com 48
(SC) referred).
