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| The Tax Publishers2020 TaxPub(DT) 3297 (SC) : (2020) 269 TAXMAN 0470 INCOME TAX ACT, 1961
Section 261 Section 68
Where the department preferred SLP to appeal against the order of Allahabad High Court in Pr. CIT v. Emm Vee Infrastructures (India) (P) Ltd. [ITA No. 324 of 2017, dt. 3-1-2019] : 2020 TaxPub(DT) 3296 (All-HC), whereby the High Court held that Tribunal had gone through the relevant records and recorded categorical findings that there was no doubt about the genuineness of the identities of the investor companies which were duly recorded in the bank account, therefore, in view of the findings recorded by the Tribunal no question of law arose. The Supreme Court dismissed the SLP on the ground of low tax effect.
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Appeal (Supeme Court) - Special leave petition - Appeal to High Court - Genuineness of the share capital received by assedssee was not proved
Department preferred SLP to appeal against the order of Allahabad High Court in Pr. CIT v. Emm Vee Infrastructures (India) (P) Ltd. [ITA No. 324 of 2017, dt. 3-1-2019] : 2020 TaxPub(DT) 3296 (All-HC), whereby the High Court held that Tribunal had gone through the relevant records and recorded categorical findings that there was no doubt about the genuineness of the identities of the investor companies which were duly recorded in the bank account, therefore, in view of the findings recorded by the Tribunal no question of law arose.Held: The Supreme Court dismissed the SLP on the ground of low tax effect.
REFERRED :
FAVOUR : SLP dismissed.
A.Y. :
IN THE SUPREME COURT OF INDIA
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