BALGOPAL MERCHANTS PVT LTD. vs. PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA

Accordingly, the appeal fails and is dismissed

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

transfer of rights held by under an agreement for sale can be regarded as a part of the consideration for allotment of shares or reason for higher valuation of shares subsequently allotted? 2. We have heard Mr. J.P. Khaitan, learned Senior Advocate assisted by Mr. Pratyush Jhunjhunwala, Ms. Sretapa Sinha and Mr. Samit Rudra, learned advocates appearing for the appellant

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 2 KOLKATA vs. M/S BST INFRATECH LTD

In the result the appeal is allowed, the order passed by the learned