Month: September 2019

BOMBAY HIGH COURT – COMMISSIONER OF INCOME TAX VS. M/S. GAGANDEEP INFRASTRUCTURE PVT. LTD. INCOME TAX APPEAL NO. 1613 OF

12 September 2019

BOMBAY HIGH COURT - COMMISSIONER OF INCOME TAX VS. M/S. GAGANDEEP INFRASTRUCTURE PVT. LTD. INCOME TAX APPEAL NO. 1613 OF 2014 - 20TH MARCH, 2017 Core Fact of the Case :………..Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in deleting the addition of Rs.7,53,50,000/under Section 68 of the Act. being share capital/share premium received during the year when the Assessing Officer held the same as unexplained cash credit? During the previous relevant t...

BOMBAY HIGH COURT – PR. CIT PANJI VS M/S. PARADISE INLAND SHIPPING PVT. LTD.

12 September 2019

BOMBAY HIGH COURT - PR. CIT PANJI VS M/S. PARADISE INLAND SHIPPING PVT. LTD. TAX APPEAL NO. 66 OF 2016 10TH APRIL, 2017 Core Fact of the Case:…… Learned Counsel appearing for the Appellant has pointed out that the main ground on which the Assessing Officer has made the assessment under Section 147 of the Income Tax Act, is that shares which were purchased are by fictitious Companies which are not existing. It is further pointed out that the Appellants-Revenue had recorded statements of two perso...