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Search results for 11ua

Delhi High Court Interprets Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)
8 months, 2 weeks ago

Delhi High Court Interprets Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)

Live Law  

The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value of shares under Section 56 of the Income Tax Act, 1961.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that Section 56 postulates that the FMV of shares shall be the value …

Tax Delhi High Court Income Value Rule Shares Valuation
Direct Tax Cases Weekly Round-Up: 31 March To 6 April 2024
8 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 31 March To 6 April 2024

Live Law  

Delhi High Court Case Title: Valley Iron & Steel Co.Ltd Versus PCIT The Delhi High Court has held that income tax additions made towards unsubstantiated share capital are eligible for deduction under Section 80-IC of the Income Tax Act. Case Title: Senapati Santaji Ghorpade Sugar Factory Versus Assistant Commissioner of Income Tax The Bombay High Court has held that retrospective …

Kerala Tax Court Income Tax Title Kerala High Court Income
Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)
8 months, 2 weeks ago

Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)

Live Law  

The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value of shares under Section 56 of the Income Tax Act, 1961.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that Section 56 postulates that the FMV of shares shall be the value …

Tax Income Value Rule Shares Valuation Inr
Premium Charged On Issue Of Shares To Existing Shareholder Is Not Deemed Income U/s 56(2)(Viib) If No Income Accrues To Ultimate Beneficiary: Delhi ITAT
9 months ago

Premium Charged On Issue Of Shares To Existing Shareholder Is Not Deemed Income U/s 56(2)(Viib) If No Income Accrues To Ultimate Beneficiary: Delhi ITAT

Live Law  

Recently, the Delhi ITAT reiterated that object of deeming an unjustified premium charged on issue of share as taxable income u/s 56 of the Income tax Act is wholly inapplicable for transactions between holding and its subsidiary company where no income can be said to accrue to the ultimate beneficiary, i.e., holding company. The AO disputed the amount of share …

Income Company Premium Share Sec Bench Shares
CBDT Proposes Changes To Rule 11UA In Respect Of Angel Tax, Notifies Excluded Entities
1 year, 6 months ago

CBDT Proposes Changes To Rule 11UA In Respect Of Angel Tax, Notifies Excluded Entities

Live Law  

The Central Board of Direct Taxes has proposed the changes to Rule 11UA in respect of Angel Tax and has also notified the excluded entities.In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for the issue of shares within the ambit of Section 56 of the Income-tax Act, 1961. The Central Board …

Tax Issue Shares Valuation Entities Cbdt Fmv
Impossible For A Company To Get Its Accounts Audited On 31st March And Get The Approval In AGM On The Same Date: ITAT Upholds Addition
1 year, 11 months ago

Impossible For A Company To Get Its Accounts Audited On 31st March And Get The Approval In AGM On The Same Date: ITAT Upholds Addition

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has held that it is impossible for a company to get its accounts audited on 31st March and present the same for approval in the Annual General Meeting on March 31st.The two-member bench of Kul Bharat and N.K. The Delhi Bench of the Income Tax Appellate Tribunal has held that it …

Company Shares Itat Assessee Its Accounts 31St March Member Bench