earned from sale of
equity shares of Turbotech Engineering Ltd., exempted u/s 10(38) of the act.
The assessee claimed to have purchased ... shares of Turbotech
Engineering Ltd. for Rs. 1,77,192/-, sold the same for Rs. 66,35,360/- and
thereby earned a whopping capital gain
sale of long term capital asset, being shares of M/s.
Turbotech Engineering Ltd. . The AO observed that investigations were
conducted by various regulatory ... Government
of India which indicated that said company namely M/s.Turbotech
Engineering Ltd. was a company with little or no inherent value
sale of 4200 equity shares of one M/s.Turbotech
Engineering Ltd., and treating the consideration of ₹19,72,500/-
received on such sale under ... that assessee had
acquired 4200 equity shares of one M/s.Turbotech Engineering Ltd.,
through off market purchase on 04.04.2012. As per the ld.
Authorised
earned from sale of equity shares of
Turbotech Engineering Ltd. exempted u/s 10(38) of the act. The assessee
claimed to have purchased ... shares of Turbotech Engineering Ltd. for
Rs. 45,000/-; sold the same for Rs. 70,23,526/- and thereby earned a
whopping capital gain
bills, it is seen that 5,000 shares of
M/s Turbotech Engineering Ltd. were sold to the assessee at a price ... share. He observed that the company M/s Turbotech
Engineering Ltd. has authorized and paid up share capital of Rs.24 crores
in the financial
from transfer of equity shares of Turbotech
Engineering Limited. The Assessing Officer, further noted that
the assessee had purchased 50,000 equity shares of Mumbai ... based Turbotech Engineering Limited @ Rs.2/- per share in the
F.Y.2011-12. The above shares have been sold on various dates
Turbotech Precision Engg. Pvt. Ltd vs Cce-Ii, Bangalore on 3 June, 2013
CUSTOMS, EXCISE AND SERVICE TAX APPELLATE TRIBUNAL
SOUTH ZONAL BENCH AT BANGALORE ... 2011
passed by CCE(Appeals), Bangalore)
M/s. Turbotech Precision Engg. Pvt. Ltd.
..Appellant(s)
Vs.
CCE-II, Bangalore
..Respondent(s)
Appearance
Mr. N. Anand
Turbotech Precision Engineering Pvt. ... vs Cce on 22 November, 2004
Equivalent citations: 2006[ ]S.T.R.325
ORDER
S.L. Peeran, Member
Commissioner Of Service Tax vs M/S Turbotech Precision Engineering ... on 15 April, 2010
Bench: K.L.Manjunath , B.V.Nagarathna
1
IN THE HIGH
observed that the assessee has sold 10,000 shares of
Turbotech Engineering Pvt Ltd for total consideration of Rs.
24,13,604/- and after reducing ... gain , which is
exempt from tax. The Assessing Officer learnt that Turbotech
Engineering Pvt Ltd is also one such company which has been
identified
