In The Commissioner Of Income Tax v. M/S. Sonatapes Private Limited, the High Court (2010) dismissed the appeal. The decision went in favour of the assessee.
Issue: Whether either ofthem has a beneficial interest to the entire shareholding is a purequestion of fact.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF BOMBAY AT GOA
TAX APPEAL NO. 18 OF 2010
THE COMMISSIONER OF INCOME TAX Versus
M/S. SONATAPES PRIVATE LIMITED
... Appellant
... Respondent
Ms. Asha Dessai, Advocate for the Appellant.Mr. Parag Rao, Advocate for the Respondent.
P.C.
-Coram:S. J. VAZIFDAR &U. D. SALVI, JJ.-Date:19th April, 2010
There is no question of law that arises in this case.
2. The two shareholders are husband and wife. Each has abeneficial shareholding of less than 20 per cent. Whether either ofthem has a beneficial interest to the entire shareholding is a purequestion of fact.
3. The Appeal is dismissed.
S. J. VAZIFDAR, J.
arp/*
U. D. SALVI, J.
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