The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus loss, it is  a speculative one. 13. It has been observed by the Assessing Officer  that the sale of shares appeared to be effected  without taking actual delivery. In Short, when the  shares were stated to have been sold i.e. the date  of selling, the assessee was not in possession of  these shares. But once a person is accepted

Commissioner of Income Tax-II vs. M/s.Jayalakshmi Chits

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus loss, it is  a speculative one. 13. It has been observed by the Assessing Officer  that the sale of shares appeared to be effected  without taking actual delivery. In Short, when the  shares were stated to have been sold i.e. the date  of selling, the assessee was not in possession of  these shares. But once a person is accepted

The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus loss, it is  a speculative one. 13. It has been observed by the Assessing Officer  that the sale of shares appeared to be effected  without taking actual delivery. In Short, when the  shares were stated to have been sold i.e. the date  of selling, the assessee was not in possession of  these shares. But once a person is accepted

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

25. The above finding of ld. CIT(A) neither could be controverted nor any material was brought on record to hold otherwise. The ld. CIT(A) has taken each and every objection of the AO and then concluded that explanation of the assessee was acceptable. The contention of the AO that by merely investing Rs.61

M/S VAIBHAV vs. JOINT COMM. OF INCOME TAX RANGE 3 HYD

Appeal is allowed and the judgments and decrees passed by the

Bench: The Learned Trial Court) Was Allowed & The Judgment & Decree Dated 12.12.2000, Passed By Learned Senior Sub Judge, Kullu Was Set-Aside. (Parties Shall Hereinafter Be Referred To In

bogus, as she never paid the 14 consideration for the sale though she admitted the execution of the sale deed before the Registrar. Her story that she was ignorant of the nature of the transaction, it was held, cannot be accepted as she had admitted the execution of the sale deed before the Registrar. 11. A Division Bench of this

The Commissioner of Income -Tax - III, vs. Shri Taher Ali

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus complaint dated 12.10.1990 to B.M.C. authorities as defendant no.2 had filed affidavit dated 10.9.1990 in favour of one of the tenants, Smt. Vasanti B. Palan in Suit (ST) 647 of 1990. Defendant no.2, by his Advocates' letter dated 28.10.1990 had placed various facts on record. On 8.11.1990, B.M.C. authorities issued notice under section 351 of the Mumbai Municipal Corporation

Principal Commissioner of Income Tax vs. Sri Nama Nageshwar Rao

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

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 it was listed on the Bombay Stock Exchange. Assessee sold these shares

Commissioner of Income tax-VI vs. M/s. Narpat Girji Constructions,

The appeal is allowed

bogus, sham and fraudulent act of the ex- management in conveying the valuable properties of several crores to the related party for pittiance and therefore, the lease deed was nothing but a fraudulent act against the interests of the shareholders, creditors, members, workers and the public interest, the said lease - 25 - OSA No. 19 of 2015 deed was void

M/s Sri Surya Constructions vs. The Income Tax Officer

Bench: P.SAM KOSHY,N.TUKARAMJI

bogus. The same is a matter of trial regarding the authenticity of the documents. The Court only has to see whether there is a cause of action in favour of the plaintiff to continue with the suit. 20. Hence, the Hon‟ble Supreme Court has clarified that while determining any application filed under Order VII Rule

The Commissioner of Income Tax V vs. M/s.Orchem Industries

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus or sham all factors are required to be taken into consideration and in this case from facts on record, it appears that the partnership is sham and it is used as a devise to protect the tenacy right. Regarding revisional jurisdiction, he has submitted that the powers of the revisional court though limited but if it is found from