S. 68 Bogus share capital/ premium: Application seeking open court oral hearing is rejected. There is no substance in the Review Petition seeking review of PCIT vs. NRA Iron & Steel Pvt. Ltd (2019) 412 ITR 161 (SC) and the same is dismissed

Application seeking open court oral hearing is rejected.
There is delay of 228 days in filing the Review Petition.
However, considering the averments made in the application
seeking condonation, we condone the delay.
The basic issue as framed in para 3.4 of the Judgment
dated 05.03.2019 was considered in the light of the facts on
record. After noting the relevant decisions, the emerging
principles were set out in para 11, in the light of which the
facts were considered from para 12 onwards. Finally, the
conclusions drawn by the Assessing Officer were found to be
correct and it was found that the lower Appellate Authorities
had erred in interfering with such conclusions. The Appeal
was, therefore, allowed and the order passed by the Assessing

Officer was restored.
We have gone through the contents in the Review Petition
and do not find any substance in the submissions raised
therein.
Consequently, this Review Petition is dismissed.
……………………J.
(UDAY UMESH LALIT
……………………J.
(INDU MALHOTRA)
NEW DELHI,
February 4,2020.
3
ITEM NO.1005 SECTION XIV-A
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
REVIEW PETITION (CIVIL) NO.________ Diary No(s). 41307/2019 in
C.A. No.2463/2019
NRA IRON AND STEEL PVT. LTD. Petitioner(s)
VERSUS
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) 1 Respondent(s)
( IA No. 175951/2019 – APPLICATION FOR LISTING REVIEW PETITION IN
OPEN COURT
IA No. 175955/2019 – CONDONATION OF DELAY IN FILING REVIEW
PETITION)

Date : 04-02-2020 These matters were called on for hearing today.
CORAM :
HON’BLE MR. JUSTICE UDAY UMESH LALIT
HON’BLE MS. JUSTICE INDU MALHOTRA
By Circulation
UPON perusing papers the Court made the following
O R D E R
The Review Petition is dismissed in terms of the signed order.
Pending applications, if any, also stands disposed of.