BETEX INDIA LIMITED,SURAT vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2, SURAT

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

transferred the equity shares of Survika Vinimay Pvt Ltd, which were purchased at a premium of Rs.187/- to Directors and group companies of Sumeet Group namely Betex India Ltd and Ambaji Syntex Pvt. Ltd. at Rs.10/- which was the face value of shares of Survika Vinimay Pvt. Ltd. By this Sumeet Group companies and its directors have got control over

RAJESH PODDAR,SURAT vs. ACIT CENTRAL CIRCLE-4, SURAT

In the result, assessee's appeal is dismissed

Section 292C of the assessee. (8) On the facts and in the circumstances of the case and in law, the Ld. CIT(A)- 4, Surat ought to have upheld the order of the Assessing Officer. (9) It is, therefore, prayed that the order of the Ld.CIT(A) may be set aside and that the AO may be restored