9911796707
TMI Blog2015 (1) TMI 248X X X X Extracts X X X X X X X X Extracts X X X X ..... vt. Ltd. under which all the shares of Unisole Infraservices were purchased - the Tribunal pointed out the fallacy in the conclusion of the Commissioner by referring to the agreement that set out outer and maximum limit of ₹ 20 crores, which the purchaser was willing to pay to the Assessee - the Tribunal rightly concluded that the AO’s view was possible and could not have been interfered wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der was passed on 8 March 2011 by the Commissioner of Income Tax (Appeals)-II, Thane in exercise of his powers under section 263 of the Income Tax Act, 1961. 3. That order was challenged by the Assessee in two Appeals. 4. The argument was that the Assessing Officer's order cannot be termed as erroneous and prejudicial to the interest of the Revenue, because he has taken a view and on fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crores in terms of clause 3.2 of the agreement between parties. Therefore that sum should have been brought to tax and not an initial consideration alone. 6. The Tribunal pointed out the fallacy in this conclusion of the Commissioner by referring to the agreement and particularly clause 3.2, that set out outer and maximum limit of ₹ 20 crores, which the purchaser was willing to pay to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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