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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Valuation of shares invoking Rule 11UA and resultant addition ...

Income Tax

January 28, 2020

Valuation of shares invoking Rule 11UA and resultant addition made u/sec. 56(2)(vii)(c)(ii) - difference in FMV of the shares and the consideration paid by the assessee - whatever the shares allotted to the assessee was from the interest of his brother who is a close relative - there is no case for making any addition for allotment of shares.

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