TaxTMI 
TaxTMI 
2011 (7) TMI 107
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....ppellant. Mr.Suresh Kumar for the respondent. CORAM : 1. Although seven questions are raised by the appellant assessee in this appeal, basically the questions relate to three issues, namely : (A) Whether the ITAT was justified in holding that the reopening of assessment was valid ? (B) Whether the ITAT was justified in holding that the leave and licence agreement entered into b....
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....hy; per month. Thereafter, Minicon let out the said premises on leave and licence to various third parties, first of such agreement was dated 19th September 1996. The Assessing Officer sought to tax the amount received by Minicon from various persons in the hands of the assessee on the ground that the leave and licence agreement between the appellant assessee and Minicon was a sham transaction. Ap....
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....xtile Trading & Agencies P Limited reported in (2008) 304 ITR 401 (Bom) has held that in the absence of any cogent evidence to show that the transaction was not genuine, the amounts received by an intermediary cannot be assessed in the hands of the assessee. In the present case, save and except the fact that one of the directors of the assessee company was also a director in Minicon, there is noth....