that total 13
person/companies had invested Rs.50000000/ as share
capital & share premium. Copy of the form no. 2 is
reproduced below:
Shri ... amount of Rs.5,00,00,000/ [Total
of share capital & share premium) as income and hence
has understated its income to the extent
Name of the Investor Share Share Share Source of Asst. In the case
No. capital premium Informatio of
n
1 Nakshatra ... credited consists of share application
Page 18 of 21
C/SCA/21108/2017 JUDGMENT
money, share capital, share premium or any such amount
by whatever
Unit-3(1), Kolkata:
Sr. Name of the Investor Share Share Capital Share
No Premium
1 Galore supplier Pvt. Ltd 37000 37000 3330000
2, Digamber ... lacs shares were allotted to these
companies for raising share capital of Rs. 29,88,500/- and
share premium
shares as per last audited balance sheet dated
31.3.2008 under:
Net worth as on 31.3.2008
Particulars Amount (Rs)
Share capital 58,20,000
Share premium ... share 2640.32
So it is clearly indicating that the assessee has issued
shares at much less value then book value of shares.
Hence the premium
Name of the Party Share Capital Share premium
No Rs. Rs.
1 Hiren Trivedi 1,50,000/- 28,50,000/-
2 Ness Nusil Wadia ... produce share application forms, details of shares
allotted to the share holders, proof of attendance of annual
general meeting of the share holders etc. During
Name of the Party Share Capital Share premium
No Rs. Rs.
1 Hiren Trivedi 1,50,000/- 28,50,000/-
2 Ness Nusil Wadia ... produce share application forms, details of shares
allotted to the share holders, proof of attendance of annual
general meeting of the share holders etc. During
noticed that the
assessee had introduced unaccounted capital through share
capital and share premium. The assessee company raised an
amount ... numbering 10 in numbers. The
assessee had surrendered this share capital along with share
premium amounting to Rs. 7.52 crores. He had also furnished
assessee company
has received following accommodation entries in form of
Share Capital & Share Premium during the year from the
Kolkata based company :
Sr. Name ... reported that it used
to take accommodation entires of the share capital/share
premium etc., in various years from the various Kolkata
based paper companies
involved in providing accommodation
entries in the form of share capital, share premium, unsecured
loans etc. as admitted in their statement by the main
controller ... 2017 ORDER
Elaborating this ground, he contended that the entire share
application and share premium money was received by the
assessee on or before
found that SCS is
engaged in providing accommodation entries of
share capital, share premium, share application
money, unsecured loans, Long Term Capital Gains,
Short term ... found that
SCS was engaged in providing accommodation entries of
share capital, share premium, share application money etc.
The revenue authorities found that SCS maintained
