which he has accepted that companies are actually
controlled by him and the companies are paper/shell companies. Mr.
Manohar Lal Nangalia also categorically accepted ... 2014, wherein he submitted that the companies
are actually controlled by him and these companies are paper/shell
companies. In the statement on oath, Shri
Provider, may be providing certain MSA
Services (as defined below) to Shell
Companies (as defined below);
B. In order to be able to provide ... provide services to Shell Entities, WIPRO/IBM shall
be allowed to access certain parts of the IT network
of the Shell Companies. Such right
Shell International Techonology
International BV.
engaged in the business of providing information technology support
services, IT helpdesk and network infrastructure services to Shell
Group Companies ... provide services to
Shell Entities, WIPRO/IBM shall be allowed to access certain parts of
the IT network of the Shell Companies. Such right
investment other than that made through the medium of 13 shell
companies etc. cannot be held as bogus. .......The CIT has already
pointed out that ... companies
from whom the investments further flowed to the applicant No. 1
company M/s Prime Ispat Limited. Thus, as far as investment from
shell
Mount Everest Breweries Ltd., Indore vs Acit (Central)-1, Indore on 20 January, 2022
आयकर
different companies.
4. In view of the above discussions, it can be concluded that these investing
companies are mere paper/shell companies who have ... Finance Company 2500000
Ltd.
Total 6,00,00,000/-
5. He noted that all the above 15 companies are paper/shell companies who
have
concerned companies. It was allegedly found that during the
investigation it was noted that allottee companies were bogus / paper/ shell companies. In
the said letter ... amount received from 34
companies out of total 94 companies to whom the assessee had allotted shares were paper /
bogus / shell companies. We therefore find
share application monies received by the assessee company, from certain companies-
which are no more than typical shell companies, lack bonafides. Learned Departmental
Representative then ... companies with proper net worth and means, these companies are
properly assessed to tax, these companies have not been declared to be shell companies
this respect modus operandi of shell entities is depicted below:-
Modus Operandi of Shell entities/or companies
Actually, shell companies are formed by making some ... held by shell
companies. Then in the current year the shares held as investment by assessee
company were sold to shell companies and paper entities
that there was an
investment of Rs. 39.08 crores by some shell companies in M/s. Prime Ispat
Limited. The Appellants before ... Shell Companies. Notice was
issued to the Shell Companies to show cause from where they have got the
funds to the extent
