{"id":3850,"date":"2019-02-04T11:05:42","date_gmt":"2019-02-04T11:05:42","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dcit-v-kargwal-products-p-ltd-mum-trib-www-itatonline-org\/"},"modified":"2019-02-04T11:05:42","modified_gmt":"2019-02-04T11:05:42","slug":"dcit-v-kargwal-products-p-ltd-mum-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcit-v-kargwal-products-p-ltd-mum-trib-www-itatonline-org\/","title":{"rendered":"DCIT v. Kargwal Products P. Ltd. (Mum.)(Trib.), www.itatonline.org"},"content":{"rendered":"<p><strong>Dismissing the appeal of the revenue, the Tribunal held that; Even in a s.143(1) intimation, the AO is not entitled to reopen on the ground that the assessee has received &#8220;huge share premium&#8221; which was not &#8220;examined&#8221; by the AO. The AO cannot reopen in the absence of tangible material that shows income has escaped assessment. <\/strong>\u00a0(ITA No. 1462\/Mum\/2017, dt. 26.09.2018) (AY. 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-Intimation-Bogus share capital-Share premium-   Reopening for taxing Bogus share capital: Even in a s. 143(1) intimation, the AO is not entitled to reopen on the ground that the assessee has received &#8220;huge share premium&#8221; which was not &#8220;examined&#8221; by the AO. The AO cannot reopen in the absence of tangible material that shows income has escaped assessment. [ S. 68, 143(1)]<\/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-3850","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-106","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3850","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=3850"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3850\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}