Supreme Court of India
Deputy Commissioner of Income Tax (central) Circle 1(2) v. M/s. M. R. Shah Logistics Pvt. Ltd.
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.
What the Court ordered
In view of the foregoing reasons, the impugned judgment is hereby set aside.
Judgment, page 22
From the headnote
Income Tax Act,1961– ss.147, 148, 143 – “Reasons to believe” – Finance Act, 2016 – Chapter IX- Income Declaratio n Scheme (IDS) – Search proceedings were conducted by Revenue at the off ice premises of one ‘SCS’ wherein several materials and documents were seized – Revenue was of the opinion that the assesse e was also a beneficiary of the business (of accommodation entries p rovided by ‘SCS’) through bogus companies – This was based on the fact that many companies which invested amounts towards share capit al on high premiums in the assessee’s company were also controll ed and managed by
Authorities it was built on
- 1976 Income Tax Officer, I Ward, Dist. Vi, Calcutta & Ors. v. Lakhmani Mewal Das
- 1993 Phool Chand Bajrang Lal and Anr. v. Income Tax Officer and Anr.
- 2010 Commissioner of Income Tax, Delhi v. M/s. Kelvinator of India Limited
- 1960 Calcutta Discount Company Limited v. Income-tax Officer, Companies District, I and Another.
- 2007 Assistant Commissioner of Income Tax v. Rajesh Jhaveri Stock Brokers Pvt. Ltd.
- 2007 Controller of Defence Accounts, Dehradun and Ors. v. Dhani Ram and Ors.
- 1993 Tekchand v. Competent Authority
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