https://www.taxtmi.com/caselaws?id=344135 The High Court dismissed the Revenue's appeals against a common order for Assessment Year 2011-12. The main dispute centered on unaccounted share purchases, with the Revenue alleging individual Assessees bought shares of ICPL, supported by documents naming WDPL as the purchaser. However, the ITAT found the shares were transferred to WDPL, not individual Assessees, and the Revenue failed to challenge this. Additionally, income additions based on seized documents for Mr. S.K. Jaipuria were rejected due to lack of evidence, and an alleged unexplained cash payment related to a family settlement was dismissed as well. The Court declined to address any substantial legal questions, leading to the dismissal of the appeals. en-us Tue, 30 May 2017 00:00:00 +0530 Fri, 09 Jun 2017 05:36:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344135 The High Court dismissed the Revenue's appeals against a common order for Assessment Year 2011-12. The main dispute centered on unaccounted share purchases, with the Revenue alleging individual Assessees bought shares of ICPL, supported by documents naming WDPL as the purchaser. However, the ITAT found the shares were transferred to WDPL, not individual Assessees, and the Revenue failed to challenge this. Additionally, income additions based on seized documents for Mr. S.K. Jaipuria were rejected due to lack of evidence, and an alleged unexplained cash payment related to a family settlement was dismissed as well. The Court declined to address any substantial legal questions, leading to the dismissal of the appeals. Case-Laws Income Tax Tue, 30 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344135