The Petitioner had issued share capital to its holding company at a premium. The Petitioner had filed Form 3-CEB with the Revenue along with its return of income for Assessment Year 2009-10. In its annexure to Form 3-CEB, the Petitioner had specifically declared the international transaction inter alia relating to issue of share capital to an Associated Enterprises (AE) having face value of Rs.100/-at a premium of Rs.1200/-per share. The aforesaid transaction was referred to by the AO to the TPO. TPO accepted the Petitioner’s Form 3-CEB in respect of the issue of shares at premium to its AE. AO reasons that the amounts allegedly received from its AE. On writ the Court held that the notice is bad on account of change of opinion. [WP No. 99 of 2015 dt. 11-3-2022 (AY.  2009-10]

Starent Network (India) Private Limited v. DCIT (Bom.)(HC)(UR)