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2019 (12) TMI 35 - AT - Income TaxAddition 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 issued - HELD THAT:- In the case, the assessee has received bonus shares without paying any consideration, and fair market of which, has been held by the AO as income in the hands of the assessee. We find that the CIT(A) has deleted the addition following the precedent in the case of Sudhir Menon (HUF) [2014 (3) TMI 534 - ITAT MUMBAI]. In the case of the assessee, bonus shares were also received in financial year corresponding to assessment year 2010-11 from the same company and the AO made addition u/s 56(2)(vii). Receipt of bonus share without consideration is involved in the year under consideration, respectfully, following the finding of the Tribunal in the case of Sudhir Menon (HUF) [2014 (3) TMI 534 - ITAT MUMBAI] in the case of the assessee itself, we uphold the finding of the CIT(A) on the issue in dispute. The ground of appeal of the Revenue is accordingly dismissed.
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