X Ltd., closely held company receives shares of A Ltd. (a listed public company) for 10,000 whose fair market value is 5,00,000. What is the taxability of X Ltd.?

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..... irm or closely held company [Sec. 56(2)(viia)] Income Tax – Other Sources - Income Tax - Manuals - FAQ - Dated:- 19-8-2015 - Chapter No. 03 - Other Sources - Gift receieved by firm or closely held c .....

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