COMMR.OF INCOME TAX,CHENNAI vs. M/S ALAGENDRAN FINANCE LTD

u/s 263 and the Assessing Officer is directed to check and assess the lease rentals from Lease equalisation fund, if any, and to bring to tax the same for all the above three years." Pursuant to or in furtherance of the said order, reassessment proceedings were carried out in respect of the aforementioned assessment years by the Assistant Commissioner

GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

deduction under any other provision of this Act shall be allowed to the company or a shareholder in respect of the income which has been charged to tax under sub- section (1) or the tax thereon.” The Explanation in relation to “buy back” was, however, amended and with effect from 01.06.2016, it reads as:- “(i) “buy-back” means purchase

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

deduction, allowance or relief in the return; (d)  where a person is found to have any asset (including financial interest in any entity) located outside India.                 xxx                                   xxx                                      xxx 11 12 15. The case of the assessee is that the transaction of step­up coupon bonds was scrutinised in great detail by the assessing officer   before   he   passed   the   order

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

Bench: HON'BLE THE CHIEF JUSTICE

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