| Citation(s) |
|---|
| 2002 SLG 160 2002 SLD 160 2002 PTD 1094 (2003) 261 ITR 263 |
Supreme Court of India
Civil Appeal No. 7968 of 1996 decided on 20-07-2000
S. P. BHARUCHA AND MRS. RUMA PAL, JJ
Harish N. Salve, Solicitor-General of India (Nikhil Sakhardande and Mrs. Sushma Suri, advocates with him) for Appellant M.L. Verma, Senior Advocate (Vinai Vasih, B.V. Desai and Santosh K. Aggarwal Advocates with him) for
Respondent
Civil Appeal No. 7968 of 1996 decided on 20-07-2000
S. P. BHARUCHA AND MRS. RUMA PAL, JJ
Harish N. Salve, Solicitor-General of India (Nikhil Sakhardande and Mrs. Sushma Suri, advocates with him) for Appellant M.L. Verma, Senior Advocate (Vinai Vasih, B.V. Desai and Santosh K. Aggarwal Advocates with him) for
Respondent
COMMISSIONER OF IncomE tax
VS
STELLER INVESTMENT LTD
Law: Income Tax Act, 1961
Section: 256(2)
Income-tax----Reference---Company---Subscribed capital---Increase---Tribunal finding not a device for converting black money into white with the help of investment company---No question of law arises---Indian Income Tax Act, 1961, S.256(2). From the decision of the High Court (see (1991) 192 ITR 287) declining to call for a reference from the decision of the Appellate Tribunal that the increase in subscribed capital of the respondent company could not be a device of converting black money into white with the help of formation of an investment company, on the ground that, even if it be assumed that the subscribers to the increased capital were not genuine, under no circumstances could the amount…
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