PCIT VS. ADITYA BIRLA TELECOM LTD (BOMBAY HIGH COURT)
I T A NO. 1502 of 2016
26-03-2019

S. 68 Bogus Share Capital: Merely because the investment was considerably large and several corporate structures were either created or came into play in routing the investment in the assessee through a Mauritius entity would not be sufficient to brand the transaction as colourable device. The assessee cannot be asked to prove the source of source (PCIT Vs. NRA Iron & Steel 103 TM.com 48 (SC) referred).