Commissioner of Income-tax-II v. Talwar Mobiles Private Limited
[Citation -2014-LL-0910-120]

Citation 2014-LL-0910-120
Appellant Name Commissioner of Income-tax-II
Respondent Name Talwar Mobiles Private Limited
Court HIGH COURT OF HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH
Relevant Act Income-tax
Date of Order 10/09/2014
Judgment View Judgment


HIGH COURT OF JUDICATURE AT HYDERABAD FOR STATE OF TELANGANA AND STATE OF ANDHRA PRADESH PRESENT HON BLE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND HON BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.605 OF 2014 DATED: 10.09.2014 Between: Commissioner of Income Tax-II Appellant and M/s.Talwar Mobiles Private Limited Respondent HON BLE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND HON BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.605 of 2014 JUDGMENT: (per Hon ble Chief Justice Sri Kalyan Jyoti Sengupta) Tribunal has followed decision of Special Bench of Tribunal in case of Bhaumik Colour P. Ltd (313 ITR (AT) 43) wherein it has been held that in order to invoke provisions of Section 2(22)(e) of Income-tax Act, 1961, assessee-company itself must be shareholder in other company, and mere existence of common shareholders would not justify invoking of provisions of said Section. We are of view that decision of Tribunal is absolutely correct. We do not find infirmity therein. Hence, appeal is dismissed. No order as to costs. Pending miscellaneous petitions, if any, shall stand closed. K.J. SENGUPTA, CJ 10th SEPTEMBER, 2014. SANJAY KUMAR, J kvni Commissioner of Income-tax-II v. Talwar Mobiles Private Limited
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