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TMI Blog2018 (6) TMI 1123X X X X Extracts X X X X X X X X Extracts X X X X ..... produced by the assessee were cooked up and the revision of returns said to have been filed before the Registrar of Companies, was subsequent to the notice issued under Section 147; an afterthought to wriggle out of the liability. All the authorities having concurred on facts, we do not find any reason to interfere with the orders. No question of law arises from the orders of the Tribunal and we reject the appeals - I.T.A.Nos. 179, 180, 181 & 197 of 2013 - - - Dated:- 11-6-2018 - MR. K. VINOD CHANDRAN AND MR. ASHOK MENON, JJ. For The Appellant : Sri.M. Gopikrishnan Nambiar, Sri.P. Gopinath, Sri.P. Benny Thomas And Sri.K.John Mathai For The Respondent : Adv. Sri.P.K.R.Menon,SR.Counsel, GOI(Taxes) And Adv. Sri.Jose Joseph, SC, For In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... % shares to be covered under Section 2(22)(e). The company had a total number of 1936 shares of ₹ 1000/- each. The assessee held 328 shares. The assessee contended that 173 shares were transferred to one Remlath Beevi on 25-09-1998. On account of the transfer, the share holding of the assessee fell to 155, which was less than 10% of 1936, was the contention. 3. The Assessing Officer called for the annual returns of the Company from the Registrar of Companies for the various years, which were relevant for consideration. The annual returns did not show the shares of the assessee having been transferred to another. The assessee then contended that the Company has filed a revised return after October, 2006 and produced the Registers of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d have been registered by the Company and share certificates issued in the name of the transferee. If that was done, it would find reflection in the annual returns filed by the Company. The annual returns, however, shows the assessee holding 328 shares. Obviously, the documents produced by the assessee were cooked up and the revision of returns said to have been filed before the Registrar of Companies, was subsequent to the notice issued under Section 147; an afterthought to wriggle out of the liability. All the authorities having concurred on facts, we do not find any reason to interfere with the orders. No question of law arises from the orders of the Tribunal and we reject the appeals,leaving the parties to suffer their costs. - - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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