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
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, it is
noticed
