Supreme Court Allows Revenue Appeal in Income Tax Case — Rectification Deed Held Invalid for Reducing Consideration Without Commercial Substance. The Court restored the addition of Rs. 10,69,79,146/- made by the Assessing Officer under the Income Tax Act, 1961, holding that the rectification deed was a colourable device to evade tax.
22 Mar 2022The case involves an appeal by the Revenue against the judgment of the Bombay High Court which dismissed its appeal and confirmed the order of the Inc...
