Supreme Court of India
Commissioner of Income Tax, Kolkata v. Mukundray K. Shah
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
For the above reasons, we set aside the impugned judgment of the High Court.
Judgment, page 18
From the headnote
Income Tax Act, 1961 Section 2(22)(e)-Deemed dividend- Diary belonging to assessee, seized by department during search of premises of a company, MKSEPL, indicating investment by him in bonds Assessing Officer finding that bonds were purchased from money received from two firms in which assessee was partner, and their books of accovnt showed repayment of loans and advances from three companies, including MKSEPL, which were closely related private limited companies, wherein assessee had controlling interest and considerable voting power-Assessing Officer concluding that MKSEPL had accumulated
Where later benches applied it
- 2008 Sudarshan Silks and Sarees v. Commissioner of Income Tax, Karnataka
- 2007 Sri T. Ashok Pai v. Commissioner of Income Tax, Bangalore
Of those, 2 mentioned
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