DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL) CIRCLE 1(2) vs. M/S M.R. SHAH LOGISTICS PVT. LTD
Appeal is allowed in these terms, without order on costs
C.A. No.-002453-002453 - 2022Supreme Court28 Mar 2022
Bench: HON'BLE THE CHIEF JUSTICE
Section 132Section 132(4)Section 143(1)Section 147
u/s 69 & 68 respectively.
3.
Based on the facts discussed above, it is to be derived that
credit received by assessee as Share premium & Share capital is not
genuine but mere accommodation entry used to avoid tax payment
and it is the undisclosed income of the assessee-company itself. On
verification of return income & Audit report filed by assessee
