ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. M/S. WINNER DEALTRADE (P) LTD.,, KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

131 of the Act. The ld. Assessing Officer doubted the nature and source of the alleged share application money and formed an opinion that the assessee had adopted a colourable device and camouflaged its unaccounted money in the form of share application money to legalize its own unaccounted income. Accordingly Section 68 of the Act was invoked and taxed under

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. M/S. LINKSTAR PROMOTERS (P) LTD, KOLKATA

In the result, both the appeals of the Revenue are dismissed