46 results for “section 68”+ Bogus Purchasesclear
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In the result, the appeal is allowed and the order passed by the learned
Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)
purchase of the shares. 4. Further it was observed that merely because the share subscriber companies are incorporated under the Companies Act, 1956 that would not add any credibility or evidentiary value and does not prove the transaction to be genuine. That apart, merely because transactions were entered into by way of account payee cheque is also not conclusive