Sameer Exports, Bangalore vs. Income Tax Officer, Ward-2(1)(3), Bangalore
In the result, the appeal of the assessee is hereby dismissed as infructuous
ITA 834/BANG/2025[2014-15]Status: DisposedITAT Bangalore04 Aug 2025AY 2014-15
Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2014-15
For Appellant: Shri Rajgopal, CAFor Respondent: Shri Subramanian S, JClT (DR)
Section 143(3)Section 2Section 234ASection 234BSection 250Section 55(2)Section 55(2)(iiia)
scrutiny order and the learned CIT (A) erred in confirming the addition, by imputing a cost to the bonus shares when section 55(2) (iiia) r.w.s. 2(h)(id) of the Securities Contracts
(Regulation) Act, 1956, which provides that in the case of bonus shares, cost should be considered ... learned AO has erred in attributing proportionate cost to the bonus units which is contrary to the provisions of section 55(2)(iiia).
4. The Ld. Commissioner(AppeaIs) while referring the definition of securities, instead of referring to the section 2(h)(id) of Securities
Contracts (Regulation) Act, 1956 wherein
