Madhya Pradesh High Court
Director M/S Money Penny Fincomm P Ltd. ... vs Assistant Commissioner Of Income ... on 17 July, 2017
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ITA No.163/2016
17-07-2017
Parties through their counsel.
Heard on IA No. 947/2017, which is an application for condonation of delay. There is a delay of two days in filing the present appeal.
The delay stands condoned.
Heard on IA No. 913/2017 for grant of exemption from filing the certified copy as it has been filed in other connected matters. The same stands allowed.
The appeal is admitted on the following substantial questions of law :-
"a). Whether on the facts and circumstances of the case and in law the ITAT was justified in deleting the additions made by the AO on account of disallowance of Share Application Money/Share Capital u/s 68 of the IT Act, 1961 ?
b). Whether on the facts and circumstances of the case and in law, the ITAT was justified in ignoring the finding of the AO that the Companies invested/introduced unaccounted money as share capital money ?
c). Whether on the facts and circumstances of the case and in law, the ITAT was justified in ignoring the facts that unaccounted money in the form of share application money were acquired back by the family member of the ground at less that 10% of the price ?"
List the matter for final hearing in due course alongwith ITA Nos. 250/2007, 252/2007, 9/2012, 10/2012, 11/2012, 12/2012, 13/2012, 14/2012, 15/2012, 27/2012, 60/2012, 33/2013 and 52/2013.
(S.C. SHARMA) (ALOK VERMA)
JUDGE JUDGE
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Rashmi