Home Highlights August 2016 Year 2016 This

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1. Revision u/s 263 - issue of bonus shares would amount to distribution of dividend or not - the assessee has issued only equity shares and there are no preference shares....

2. Addition u/s 56(2)(ix) - forfeited amount of application money collected on issuing shares against share warrants - The amount forfeited by the assessee out share...

3. 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...

4. 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...

5. Deemed dividend addition u/s 2(22)(e) - Since all the conditions necessary for treating the deemed dividend of the amount received in the hands of concern (which in this...

6. Deemed dividend u/s. 2(22)(e) - the loan given by the company only in the immediate preceding year, i.e., assessment year 2007-08, should be assessed as deemed dividend...

7. Deemed dividend u/s 2(22)(e) - shares held in the name of minor children - no such benefit accrued, and hence the assessee could not be said to be the beneficial owner...

8. Deemed dividend addition u/s 2(22)(e) - it is only where a loan advanced by a company to registered shareholder and other conditions set out in section 2(22)(e) are...

9. Deemed dividend u/s. 2(22)(a)/2(22)(d) r.w.s. 115-O - purchase/ buyback of its own shares by the company - It is to be noted that as per the proviso to Sec. 2(22), only...

10. Deemed Dividend - addition of advance salary as deemed dividend - advance was not in the nature of loan and hence cannot be treated as deemed dividend u/s 2(22)(e) - AT

11. Revision u/s 263 by CIT - buy back of shares from its own holding company - deemed dividend under section 2(22)(d) - dividend distribution tax u/s 115-O - CIT has...

12. Loan taken from company - Deemed dividend - The amount of deemed dividend cannot be more than accumulated profits - AT

13. Regulations for SR equity shares - "SR equity shares" means the equity shares of an issuer having superior voting rights compared to all other equity shares issued by that issuer.

14. Deemed dividend u/s 2(22)(e) - By granting advance, if the business purpose of the company is served and which is not the sum, which it otherwise would have distributed...

15. Capital Gain - computation of cost of acquisition - bonus debentures or not - re-investment of dividend amount - An amount was indeed received on behalf of the assessee...