GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

50,000 shares at the rate of Rs.35,000 per share for a total consideration of Rs.2,625 crores from said Genpact India Investment, Mauritius. (d) In the income tax return filed on 28.11.2014 by the appellant for the assessment year 2014-15, “Details of tax on distributed profits of Civil Appeal No. 8945 of 2019 @ SLP(C) No.20728

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

u/s 150(2) of the IT Act.” Section 150 of the Act reads as under: 35 “150 - Provision for cases where assessment is in pursuance of an order on appeal, etc. (1) Notwithstanding anything contained in section 149, the notice under section 148 may be issued at any time for the purpose of making an assessment or reassessment or recomputation

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