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1 - 10 of 38 (0.49 seconds)Section 69C in The Income Tax Act, 1961 [Entire Act]
Section 153A in The Income Tax Act, 1961 [Entire Act]
Section 158BD in The Income Tax Act, 1961 [Entire Act]
Section 131 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Section 132 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax vs Steller Investment Ltd. on 20 July, 2000
On the facts, I find that the above said company is income tax
payer and have accepted to have contributed the share
application money. The honourable supreme court in the case
of CIT v. Steller Investment Ltd. As reported on 251 ITR 263
sc have held that where the income tax payer accepts the
contribution of share capital no addition should be made in the
hands of the company.
Commissioner Of Income-Tax, New ... vs East West Import & Export (P) Ltd.,(Now ... on 8 February, 1989
Recently, the SC has reaffirmed the above said principles by
making the strong observations that even if there are the bogus
share holders no addition can be made in the hands of the
company. This principles has been laid down by the S.C. in
the case of CIT v. Lovely Export (P) Ltd. As reported on
(2008) 216 CTR S.C. 195. In view of the above, the share
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application money at Rs.42,85,356/- is accepted and the
addition made towards the same is removed. Accordingly, the
appellant gets the relief of Rs.42,85,356/-. In the result, the "