2019 (10) TMI 520 - SCH - Income Tax

Reopening of assessment u/s 147 - original assessment u/s 143(3) - unexplained investment made by a Mauritius based Company towards share allocation money in Compulsory Convertible Cumulative Preference Shares - genuineness and creditworthiness of the foreign entity - information received from the investigation wing - beyond limitation - no failure on the part of the assessee to declare fully and truly all material facts - no new or additional material - desire to carry out enquiries - HELD THAT - SLP dismissed.

Summary

Title: Supreme Court of India dismisses special leave petition

Citation: 2019 (10) TMI 520 - SC

Judges: Mr. Rohinton Fali Nariman and Mr. Surya Kant, JJ.

Representation: Petitioner(s) represented by Mr. Zoheb Hossain, Adv., Mr. Adit Khoram, Adv., Mr. Manish Pushkarna, Adv., and Mrs. Anil Katiyar, AOR

Respondent(s): None

Decision: Special leave petition is dismissed.