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Income Tax - Highlights / Catch Notes

Home Highlights March 2021 Year 2021 This

Addition u/s 68 or 56- Bogus share premium and share capital - ...

Income Tax

March 12, 2021

Addition u/s 68 or 56- Bogus share premium and share capital - as assessee has issued the shares at fair market value computed in accordance with Rule 11UA(a) of the IT Rules 1962 and no fault has been found in the method applied by the assessee and the lower authorities have made the addition u/s. 56(2)(viib) purely on presumptions and surmises. - AT

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