DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH vs. JAMES HOTELS LTD, CHANDIGARH

Bench: The Said Resolution To Enhance Authorized Share Capital.

271D of Income Tax Act. It was explained during the assessment proceedings that the provisions of section 269SS are applicable only to the transactions of loans and advances and the amount received towards allotment of shares which has been duly reflected as such as share application money in the audited accounts of the assessee in Note

SMT. PARAMJEET KAUR,LUDHIANA vs. JCIT, RANGE VII, LUDHIANA

In the result all the appeals of the Assessee’s are allowed