Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Taxability of shares premiums u/s 56(2)(viib) r.w. Rule 11UA - ...


Share Premium Taxability Confirmed u/s 56(2)(viib) and Rule 11UA, Applies Even Without Unaccounted Funds Involvement.

July 23, 2019

Case Laws     Income Tax     AT

Taxability of shares premiums u/s 56(2)(viib) r.w. Rule 11UA - contention that provisions of section 56(2)(viib) should be applicable only when there is investment of unaccounted money - not find any merit in the argument

View Source

 


 

You may also like:

  1. Addition u/s 56(2)(viib) - share premium received - AO without appreciating above facts has simply made additions towards share premium on flimsy grounds by assigning...

  2. Addition u/s. 56(2)(viib) in respect of share premium - The prime object of insertion of Sec. 56(2)(viib) was to tax excessive share premium received unjustifiably by...

  3. Taxability of share premium - company in which public are substantially interested - AO taxed u/s 56(1) - assessee has received share premium and AO has mandate to...

  4. Addition of share premium u/s 56(2)(viib) r.w.r. 114A(2)(a) - Excess of share premium collected by the assessee is taxable u/s 56(2)(viib) r.w.r. 114A(2)(a) - AO has the...

  5. ITAT ruled in favor of assessee regarding addition under s. 56(2)(viib) for alleged excess share premium. The disputed amount arose from a nominal rounding difference of...

  6. Addition under the Head "Income from Other Sources" u/s 56(2)(viib) - It is apparent that there is no case of application of Section 56(2)(viib) to the facts of...

  7. Addition u/s 56(2)(vii)(b) - issues of shares at a price more than the FMV - from the year of application or allotment - Section was inserted vide Finance Act, 2013...

  8. 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...

  9. The ITAT considered the issue of addition u/s 2(22)(b) r.w.s. 56(2)(viia) concerning the treatment of bonus shares received by the assessee. The AO treated the bonus...

  10. Conversion of loan into share capital attracts provisions of Section 56(2)(viib) of the Income Tax Act. The term 'consideration' used in the section has wide...

  11. Taxability of share premium collected by assessee u/s.56(2)(viib) - fair market value of shares - when the assessee has substantiated share price to the satisfaction of...

  12. Addition u/s 56(2)(viib) - valuation under Rule 11UA (2) - Even if preferential shares and equity shares are considered to be falling within the purview of Section...

  13. Disallowance u/s 56(2)(viib) - issuance of shares with premium - share application money was received by the company from a non-resident company - since provisions of...

  14. Taxability of shares premium u/s 56(2)(viib) - AO was required to undertake the exercise of fact finding by determining the FMV of the Shares in question as per...

  15. The ITAT held that u/s 56(2)(viib), addition on premium amount in excess of FMV for issuing Optional Convertible Preference Shares to holding company is unsustainable....

 

Quick Updates:Latest Updates