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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Addition u/s 56(2)(vii) on account of alleged excess share ...

Income Tax

January 28, 2020

Addition u/s 56(2)(vii) on account of alleged excess share premium - AO on account of alleged excess share premium is unjustified when those very shares are sold in next financial year at much higher amount after proper due diligence, that to a non resident buyer

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  1. 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...

  2. Addition u/s 56 (2)(vii)(b) - alleged excess value of share premium over fair value - in the absence of any defect in the valuation of shares arrived by the assessee on...

  3. 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...

  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. 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 -...

  6. Addition u/s 56(2)(vii)(b) - purchase of immovable property on less than stamp duty value - it was incumbent upon the AO to refer the matter to the District Valuation Officer

  7. Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction...

  8. Addition u/s 56(2)(viib) - excess premium collected on issue of equity shares from resident individuals - assessee is a recognized startup from DPIIT, Ministry of...

  9. Addition u/s.56(2)(vii)(b) - share premium - difference between the issue price and the actual share price determined by the AO - AO has changed the method of valuation...

  10. Addition u/s 56(2)(vii)(b) - AO referred the valuation of property to Valuation Cell and DVO - difference between the DVO value and consideration paid for purchase of...

 

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