Supreme Court · 2007 INSC 403 · Decided 10 April 2007
Commissioner of Income Tax, Kolkata v. Mukundray K. Shah
- Court
- Supreme Court of India
- Citation
- 2007 INSC 403 · [2007] 4 S.C.R. 1104
- Case number
- Civil Miscellaneous Petition No. 1873/2007
- Decided
- 10 April 2007
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 2(22)(e)
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 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 profits but deliberately refused .to distribute them as
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