CIT Vs. ELLORA MERCANTILE PVT LTD

JUDGEMENT

(1.) The Court: The appeal has been preferred by the revenue against a judgment and order dated 18th April, 2013 by which the learned Tribunal dismissed the appeal of the revenue. The facts and circumstances of this case, briefly stated, are as follows:

(2.) Aggrieved by the order of the assessing officer, an appeal was preferred by the assessee before the CIT(A) who passed his order dated 6th August, 2012 holding that share application money could not be treated as deposit within the meaning of provisions of Section 269 SS. Therefore, the order of the assessing officer was set aside.

(3.) The Tribunal dismissed the appeal of the revenue on the same ground.