companies/paper companies. The
observations made by the Hon'ble Courts on the issue are as under:
a) With regard to identity of shell ... characteristics of shell companies
as discussed above and finding of Ld. CIT (A) regarding this company being a
paper/shell company, it is noted that
company, be it in fiscal statutes or in penal statutes, Neither the Companies Act, 1956
nor the Companies Act, 2013 defines the expression shell company ... employee. Just like a shell which has a thick outer covering but is hollow
inside, a shell company is a corporate entity without having active
used for routing large funds transfers. Appellant received transfer from different
shell companies' a/c having no business. Number of bank accounts of these ... shell
companies/concerns were used for effectuating the routing of these entries. As
regards reasons recorded is concerned, it is seen that
M/S Tjr Properties Pvt. Ltd., ... vs Acit, Cc-2, Chandigarh on 2 February, 2024
Acit, Cc-2, Chandigarh vs M/S Tjr Properties Pvt. Ltd., ... on 2 February, 2024
Shell Company', either under the I ncome Tax
Act, or under the Companies Act ; that a detailed note on
'Shell Company ... imagination, render the genuine and legal
assessee company to be either a paper company, or a shell
company; that no Director or shareholder
Shell Company', either under the I ncome Tax
Act, or under the Companies Act ; that a detailed note on
'Shell Company ... imagination, render the genuine and legal
assessee company to be either a paper company, or a shell
company; that no Director or shareholder
Shell Company', either under the I ncome Tax
Act, or under the Companies Act ; that a detailed note on
'Shell Company ... imagination, render the genuine and legal
assessee company to be either a paper company, or a shell
company; that no Director or shareholder
genuinity of company and sources of credit entries in
bank account, sent a detailed note on the comparison of
assessee company with shell companies ... than 12 hours and observed that the assessee company
is a shell company. Thus, the ADIT (lnvestigation), Mohali
exceeded her jurisdiction knowingly and issued dictates
parent company
based at Hongkong. This Hong Kong based parent company is 100% subsidiary
of company based at China namely Hareon Solar Technology Company Limited ... assessee company
was done by its parent company at Hongkong who is holding 100% shares of
assessee company. This Hongkong based company is 100% subsidiary
