2018 (8) TMI 522

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... no.1 and 2. P.C. :- 1. At the request of the Learned Counsel for the parties, the petition itself is being disposed of at the stage of admission. 2. This petition under Article 226 of the Constitution of India challenges the order dated 4th May, 2013 passed by the Income-Tax Appellate Tribunal (the Tribunal). The impugned order dated 4th May, 2013 dismissed the petitioner's Miscellaneous A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e investment in shares by five corporate entities i.e. Coromandal Merchants P. Ltd, Maple Mercantile P. Ltd., Criticare Marketing P. Ltd, Ziwani Barter P. Ltd and Deveraj Mercantile (P) Ltd. were not genuine investment in shares and therefore hit by Section 68 of the Act. At the time of regular hearing of the Appeal on 27th November, 2014, the petitioner had filed detailed written submissions maki....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ort of its case and in particular the binding decisions in support of their appeal. The impugned order dated 4th May, 2018 on the Rectification Application without addressing itself to the issues raised in the application proceeded to hold that the issue has been discussed threadbare in the order dated 13th February, 2015. Thus, no occasion to entertain the Rectification Application under Section ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....anies was genuine. In the above view, the Tribunal ought to have allowed the petitioner's Rectification Application and considered the petitioner's Appeal before it on merits, inter-alia, taking into account the material and case laws which has been already filed by the petitioner's during the hearing leading to the order dated 13th February, 2015. 7. In view of the peculiar facts of ....