RIVET ELECTRICAL PVT LTD,FARIDABAD vs. PR. CIT, FARIDABAD
In the result, the appeal of the assessee is allowed
ITA 6225/DEL/2019[2014-15]Status: DisposedITAT Delhi15 Nov 2022AY 2014-15
Bench: Shri Kul Bharat & Shri Pradip Kumar Kedia[Assessment Year : 2014-15] Rivet Electrical Pvt.Ltd., Vs Pr.Cit, Ff-9, Vishnu Place, Faridabad, Near Neelam Flyover, Sec-20B, Haryana. Faridabad, Haryana-121002. Pan-Aafcr8803C Appellant Respondent Appellant By Shri Rajeev Saxena, Adv., Ms. Sumangl Saxena, Adv. & Shri Sahyamsunder, Adv. Respondent By Shri Anuj Garg, Sr.Dr Date Of Hearing 12.10.2022 Date Of Pronouncement 15.11.2022
Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 263
price of Rs. 80/- including share premium of Rs. 70/- per share to the following investors:
M/s Best Buildmart (P) Ltd., M/s Goodluck Industries Ltd., M/s
Metalcity Construction Kovai (P) Ltd., M/s Radha Ballabh Nest Build
(P) Ltd, M/s Texcity Constructions Kovai (P) Ltd.
4. Due to unfavourable market conditions, the assessee company could not start its business activities. During