{"id":10607,"date":"2020-03-22T04:00:39","date_gmt":"2020-03-22T04:00:39","guid":{"rendered":"http:\/\/itatonline.org\/digest\/priya-tools-p-ltd-v-acit-2019-182-dtr-249-201-ttj-505-73-itr-546-chd-trib\/"},"modified":"2020-03-22T04:00:39","modified_gmt":"2020-03-22T04:00:39","slug":"priya-tools-p-ltd-v-acit-2019-182-dtr-249-201-ttj-505-73-itr-546-chd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/priya-tools-p-ltd-v-acit-2019-182-dtr-249-201-ttj-505-73-itr-546-chd-trib\/","title":{"rendered":"Priya Tools (P) Ltd. v. ACIT (2019) 182 DTR 249 \/ 201 TTJ 505 \/ 73 ITR 546 (Chd.)(Trib.)"},"content":{"rendered":"<p>Held that, the provisions of S. 56(2)(viia) which came into effect from 1st June, 2010, did not apply to the transactions entered (May 2010) before the commencement date.\u00a0 Further, nothing incriminating was found in the course of survey and search that assessee had paid anything over and above Re. 1 per share. Therefore reassessment under S. 147 and consequent addition under S. 56(2)(viia) were invalid.\u00a0 (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-Income from other sources\u2013Reassessment proceedings initiated on suspicion-when nothing incriminating was found to suggest that anything over and above Re. 1 per share was paid by assessee-Reassessment  is held to be invalid. [S.56(2)(viia), 148]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10607","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2L5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10607"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10607\/revisions"}],"predecessor-version":[{"id":10608,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10607\/revisions\/10608"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}