Held that the Revenue failed to produce any cogent material to prove that the assessee received over and above the disclosed consideration of Rs. 2 crores. Order of Tribunal is affirmed. (AY. 1998-99, 2000-01 to 2003-04)
CIT v. Tube Investments of India Ltd. (2022) 446 ITR 676 / 288 Taxman 524 / 220 DTR 383 / 329 CTR 986 (Mad.)(HC). Editorial : SLP of Revenue dismissed , CIT v. Tube Investments of India Ltd. (2023) 292 Taxman 465 (SC)/ CIT v. Tube Investments of India (P.) Ltd. (2023) 292 Taxman 546 (SC)
S. 4 : Charge of income-tax-Transfer of rights-Transfer is genuine-Set off credit-No evidence-Deletion of addition is valid. [ S. 28(iv) ]