SILLS KARINGATTIL JOSE,NEDUMKANDOM vs. ITO WARD 2, THODUPUZHA

Appeal is partly allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhsils Karingattil Jose Income Tax Officer Np 3/406, Karingattil Ward - 2, House, Munnar Road Thodupuzha Vs. Nedumkandom P.O. [Pan: Afopj8789C] (Appellant) (Respondent)

14 Sils Karingattil Jose also referred to in the Explanatory Notes to the Finance Bill, 2010. Therefore, the aim and intention behind amending the provisions of section 56 is to prevent the practice of transferring unutilized shares at a price which are allotted for the first time by way of rights shares. The amendment is therefore never meant