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Section 2636 Section 143(3)3 Section 56(2)(viib)3

M/S.SAHYADRI AGENCIES LTD,KANDNASSERY, THRISSUR vs. THE ITO, WD-1(3), THRISSUR

In the result, the appeal filed by the assessee is dismissed

ITA 439/COCH/2019[2014-15]Status: DisposedITAT Cochin05 Nov 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Bomi Daruwala, AdvocateFor Respondent: Smt.A.S.Bindhu, Sr.DR

Section 143(1)Section 143(3)Section 14ASection 263Section 56(2)(viib)Section 68

56(2)(viib) and section 68 of the I.T.Act in respect of the issue / allotment of shares (OPCCPS). The 13 M/s.Sahyadri Agencies Limited. Assessing Officer ought to have, even in a limited scrutiny assessment, prima facie examined whether there is a case of escapement of income exceeding the amount prescribed under the Board Instructions. The A.O. after prima facie examination