Principal Commissioner of Income Tax vs. Sri Nama Nageshwar Rao
ITTA/23/2021HC Telangana09 Oct 2023
Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY
Section 132Section 132(4)Section 153ASection 260A
2.
Briefly, the facts of the case are that the Assessee purchased shares of
an unlisted private company in 2010. This unlisted company then merged
with another unlisted company, M/s Focus Industrial Resources Ltd. and
shares of this merged entity were allotted to the Assessee. Subsequently, the
merged entity allotted further bonus shares to the Assessee and thereafter
