Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Rectification u/s 154 - The Assessee argued that...     TaxTMI    Seeking rectification in Form GSTR-1 - limitation...     TaxTMI    Penalty for Non-filing of monthly return - Seeking...     TaxTMI    Detention of the goods and vehicle - stock transfer...     TaxTMI    Refund of EDD - Period of limitation - Appellant...     TaxTMI    Additions on the basis of material seized during...     TaxTMI    Penalty u/s 270A - allegation of misreporting as...     TaxTMI    Estimation of income - bogus purchases - The...     TaxTMI    Rejection of application for registration u/s...     TaxTMI    Condonation of delay - substantial delay of 166...     TaxTMI    Unexplained cash credit u/s 68 - The Court...     TaxTMI    Validity of Reassessment notices issued unsigned -...     TaxTMI    Demand of late fee u/s 47(1) of the CGST / SGST Act...     TaxTMI    Validity Of Order passed u/s 73 - Denial of ITC...     TaxTMI    Validity Of Order passed u/s 73 - cryptic order -...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Addition on account of share premium received on the contours of ...

Income Tax

February 10, 2024

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 having pre-existing right in the company. - The Tribunal observed that where the shares are allotted to existing shareholders, the deeming provisions may not be applicable. The courts emphasized that the purpose behind Section 56(2)(viib) is to prevent unlawful gains, which may not arise in transactions between related companies. - CIT(A) rightly deleted the additions.

View Source

 

← Previous Next →

 

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. 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...

  4. Funds received in the form of share premium - additions u/s 56(2)(viib) r.w.s. 68 - Clause (viib) of Section 56(2) is triggered at the stage of computation of income...

  5. 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...

  6. 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...

  7. Powers of CIT(A) u/s 251(1)(a) - CIT(A) deleted addition related to share capital but hold that share premium is taxable u/s 56(2)(viib) - AO in the assessment order has...

  8. 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...

  9. Addition u/s 56(2)(viib) - Value of share premium received on allotment of 31248 shares - Valuation report obtained from the merchant bankers even they have issued a...

  10. Addition u/s 56(2)(viib) - shares being issued at excessive rate - When shares are issued at a premium by a subsidiary to its holding company, based on a recognized...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
H: Securities and Exchange Board of India (Research Analysts) (Amendment)...
H: Securities and Exchange Board of India (Investment Advisers) (Amendmen...
H: SEBI recently issued the Securities and Exchange Board of India (Alter...
H: Export of 2,000 MT of White Onion under Code 0703 10 19 - The exports ...
H: Amendment to Regulation 4 of FEMA, Mode of Payment and Reporting of No...
H: Amendment to Regulation 3.1 of FEMA, Mode of Payment and Reporting of ...
H: Foreign Exchange Management (Foreign Currency Accounts by a person res...
H: The notification issued by DGFT extends the accreditation period for H...
H: Control of income-tax authorities - U/s 118 - Notification No. 39/2024...
A: ADDITIONAL GROUNDS OF APPEAL AND ORDER IN APPEAL IN GST
A: Know the Challenges and Issues with GST
F: Sec 16(4) Reversal of ITC when 3B is filed belatedly
F: sales Against 0.1% GST- if export not done within 90 Days
H: Validity of Service of notice u/s 74(5) instead of u/s 74(1) of CGST /...
H: Levy of penalty - the e-way bill had expired one hour fifteen minutes ...
H: Ex-parte order - Quantification of Liability - intention of evade GST ...
H: Calculation of Tax Liability based on subsequent years Balance Sheet -...
C: Limits for investment in debt and sale of Credit Default Swaps by Fore...
H: Validity of assessment orders - The High court examined the timeline o...
H: Levy of penalty u/s 271(1)(c) - The Tribunal found no justification fo...
C: Framework for Category I and II Alternative Investment Funds (AIFs) to...
C: Flexibility to Alternative Investment Funds (AIFs) and their investors...
N: Securities Contracts (Regulation) (Stock Exchanges and Clearing Corpor...
N: Securities and Exchange Board of India (Research Analysts) (Amendment)...
N: Securities and Exchange Board of India (Investment Advisers) (Amendmen...
A: WRONG FIXATION OF FEES PAYABLE TO INTERIM RESOLUTION PROFESSIONAL
A: MANNER OF FILING APPEAL BY COMMISSIONER
A: Recovery proceedings not to be initiated against the former director o...
A: A simplified GST guide designed for commission agents and brokers.
A: Delhi HC issued notice to decide on the taxability of providing corpor...