HERO FINCORP LIMITED,NEW DELHI vs. ACIT, CIRCLE 11(1), DELHI, C.R. BUILDING

In the result, the appeal of the assessee is partly allowed

rectification order under section 154 rectifying the\nassessment order wherein erroneous addition was made under section 56(2)(viib)\nof the Act despite the said section being not applicable to issuance of shares to non-\nresident investors.\n16. That the NFAC grossly erred on facts and in law in not appreciating that, since the\nshares were issued to non-residents

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above