Home Highlights March 2017 Year 2017 This

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1. Reopening of assessment u/s 147 - excess claim of deduction u/s 35D - formation of belief by the AO is within realm of subjective satisfaction - for the purpose of...

2. Deduction u/s 35D - the assessee had increased the share capital by way of private placement with its holding, hence, deduction u/s 35D not allowable to the assessee - AT

3. Addition u/s 68 - unexplained cash credits of share capital and security premium received - the assessee has routed its unaccounted income in the books of account in the...

4. Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

5. Addition u/s 68 - addition in share capital and share premium, identity and creditworthiness of the share holders, valuation report - Since no cash was involved in...

6. Addition u/s 68 - unexplained cash credits of share capital and security premium - assessee has no plausible explanation to explain the source of alleged sum of share...

7. Addition u/s 68 - share capital issued at the premium - unexplained cash credit - Assessee has fully discharged its onus cast under section 68 of the Act and proved the...

8. Correct head of income - sale consideration received by the assessee from redemption of preference shares including the premium- capital income or income from other...

9. Addition u/s 68 - Share premium - Transaction in the nature of Capital Account - violation of the provision of Section 78(2) of the Companies Act, 1956 - The High court...

10. Addition u/s 68 - unexplained share premium and share capital - the assessee has substantially provided materials to prove the genuineness of the share holders apart...

11. Addition u/s 68 - share capital and share premium received - The assessee had sufficient opportunity to place the facts and also to explain the nature and source of...

12. Revision u/s 263 by CIT - Jurisdiction exercised by ld PCIT under section 263 of the Act is not in accordance with law. PCIT has selected the item (share capital and...

13. Unexplained share capital and share premium - Not only the assessee has proved the identity and creditworthiness of the investors and genuineness of the transactions by...

14. Addition u/s 68 - Unexplained cash credits - share premium & security premium - source of alleged cash credit could not be explained - the provisions of section 68 have...

15. Cost of Project u/s.35D(3)(a) - industrial undertaking - shares acquired cannot be treated by any stretch of imagination as land or building, plant or machinery etc.,...