Income from other sources as per Section 56(2)(vii) - fair ...

Income Tax

December 28, 2020

Income from other sources as per Section 56(2)(vii) - fair market value of bonus shares - any profit derived by the assessee on account of receipt of bonus shares is adjusted by depreciation in the value of equity shares held by him. In the instant case, there is no material on record to infer that bonus shares have been transferred with an intention to evade tax, which is the object of the provision in question. - when there is an issue of bonus shares, the money remains with the company and nothing comes to the shareholders as there is no transfer of the property and the provisions of Section under Section 56(2)(vii)(c) of the Act are not attracted to the fact situation of the case. - HC

View Source

← Previous Next →

Income from other sources as per Section 56(2)(vii) - fair ...

Income Tax

December 28, 2020

You may also like:

Addition u/s 56(2)(vii)(c) - difference between the fair market value of the shares and consideration received by the company from the assessee to whom bonus shares...

Addition u/s 56(2)(viia) - purchase of shares at price more than its fair market value - The tribunal extensively reviewed the submissions and evidence presented,...

Income from other sources - Addition u/s.56(2)(viib) - The revenue authorities cannot force the assessee to adopt particular method for valuing the fair market value of...

Addition of income from other sources u/s 56(2)(viib) - allotment of shares at a price which exceeds fair market value (FMV) of the share - Revaluation reserves need not...

Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

Sale of shares allotted to the assessee under employee stock option plan[ ESOP] and taking the sale value above fair market value as income from other source u/s 56 (2)...

Addition under section 56(2)(viia) - aggregate FMV of the shares of IHPL and VDPL, exceeding the consideration added as Income from Other Sources - - The Rules in this...

Addition u/s 56(2)(vii)(c) - related person - allotment of equity shares @ Rs. 10/- - book value of shares prior to allotment worked out at Rs. 552/- per share - the...

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

Addition u/s 56(2)(viia) - shares received by the assessee company on account of amalgamation, for a price lower than the Fair Market Value (F.M.V) of the shares -...

Addition u/s 56(2)(viib) - Share Capital - excessive Share premium - closely held company - Rule 11UA - Assessee has failed to explain and justify issue of preference...

Addition u/s.56(2)(viib) - Determination of FMV of shares - Admittedly, provision of section 56(2)(viib) of the Act do not prescribe only one method for valuation of...

Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction...

Computation of LTCG - Based on a reading of Section 50CA of the Act, it is clear that where the actual sale consideration on transfer of unlisted equity shares is less...

Addition u/s 56(2)(vii)(c) - bonus shares received - when there is an issue of bonus shares, the money remains with the company and nothing comes to the shareholders as...

Quick Updates: