Dismissing the appeal of the revenue the Tribunal held that as per annual return filed with Registrar of Companies assessee was holder of only one share in ‘C’ Ltd. and other shares stood transferred to ‘J’ Ltd. It was also found that even though return was filed belatedly with ROC i.e. on 8-5-2012, with late fee as applicable but same was accepted by ROC. Accordingly  for all intents and purposes, effective date of transfer was date as mentioned in return. Since revenue could not rebut aforesaid facts beyond reasonable doubt, deeming provisions of section 2(22)(e) could not be applied.  (AY. 2013-14)