2014 (4) TMI 1264

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....ppellant. Sri.A.Shankar And Sri.M.Lava, Advs. For The Respondent. ORAL JUDGMENT: Dilip B. Bhosale, This appeal under Section 260-A of the Income Tax Act, 1961 (for short "The Act") is directed against the order dated 12.10.2012 passed by the Income Tax Appellate Tribunal, Bangalore in ITA.No.1050/2011 whereby the Tribunal confirmed the order passed by the First Appellate Authority date....

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.... the assessee is not liable for tax under Section 2(22)(e) of the Act on the ground that assessee is not a share holder without taking into consideration the provisions of Section 2(22)(e) of the Act?" 3. A similar substantial question of law was framed in ITA.NO.322/12 and connected appeals decided on 8.1.2014 and it was answered in favour of the assessee against the revenue. 4. Having conf....

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....for the revenue persuaded us to take differing view. In the circumstances, we find no reason to interfere with the concurrent finding of facts recorded by the two authorities below namely the appellate Authority and the Tribunal. In the circumstances,; we answer the question as formulated by us in favour of the respondent - assessee and against the revenue. 19. Before we part, we observe ....