2010 (4) TMI 103

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....'ble Mr Justice Badar Durrez Ahmed Hon'ble Mr Justice V.K. Jain 1. Whether Reporters of local papers may be allowed to see the judgment  2. To be referred to the Reporter or not? 3. Whether the judgment should be reported in Digest? BADAR DURREZ AHMED, J (ORAL) CM 16767/2009 & 16772/2009 We have heard the counsel for the parties. The delay is condoned. These applications ....

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....g Officer to the disclosed income of the other assessee (Intex Technology India Ltd) on protective basis in the assessment completed in respect of the very same block under Section 158 BC of the said Act. 3. The Commissioner of Income Tax (Appeals) deleted the additions. The addition of Rs 83,94,000/- comprises of two components. One component was on account of Rs 79 lacs which was received by ....

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....sion in the case of CIT v. Lovely Exports Private Limited: 216 CTR 195, where it has been held that if the share application money is received by the assessee company from alleged bogus shareholders whose names are given to the Assessing Officer, then the department is free to proceed against the said shareholders in accordance with law. The Tribunal held that the amount of share capital received ....