Addition u/s 56(2)(vii)(c) - difference between the fair market ...

Section 56(2)(vii)(c) Not Applicable for Taxing Bonus Shares; Additions Deleted as Provision Misapplied.

December 2, 2019

Case Laws Income Tax AT

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 issued - issue of Bonus Shares was never envisaged to be taxed under the provisions of section 56(2)(vii) - Additions deleted.

View Source

← Previous Next →

Addition u/s 56(2)(vii)(c) - difference between the fair market ...

Section 56(2)(vii)(c) Not Applicable for Taxing Bonus Shares; Additions Deleted as Provision Misapplied.

December 2, 2019

Case Laws Income Tax AT

You may also like:

The ITAT Delhi held that the addition u/s 56(2)(vii)(c) for bonus shares received was not applicable as the overall wealth of a shareholder post or pre-bonus remains the...

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...

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...

Determination of FMV of shares - section 56(2)(vii)(c)(ii) - AO is expected to examine the applicable provisions during the assessment proceedings. However, when the...

Addition u/s 68 or 56 - Undisclosed income of unsecured loan - share application money receipt - the share application money was received in the financial year 2011-12 -...

Addition on account of share premium received on the contours of Section 56(2)(viib) - Premium has been charged to existing shareholder - Related parties / subscriber...

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...

Addition u/s.56(2)(vii)(c) - income from transaction of shares - the offer made by the company was accepted by the shareholders before 1st October, 2009 hence, the...

Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased...

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...

Addition u/s 56(2)(vii)(c)(ii) - allotment of shares to assessee shareholder at a value lower - whether Tax to be paid by the shareholders or the company? - The shares...

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...

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...

Addition u/s 50C r.w.s. 56(2)(vii) (b) - the buyer of the property - The Tribunal (ITAT) ruled that since the assesses were buyers, Section 50C did not apply, and...

ITAT ruled that Section 56(2)(vii)(c)(ii) does not apply to public limited companies, being exclusively applicable to individuals and HUFs. In a scheme of amalgamation...

Quick Updates: