Wednesday, July 10, 2019

AO couldn't apply sec. 56(2)(viib) to tax excess share premium without determining FMV of shares

INCOME TAX : Before applying provisions of section 56(2)(viib), assessing authority is required to undertake exercise of determining fair Market Value of shares as provided in provisions of section 56(2)(viib)

from www.taxmann.com Latest Case Laws https://ift.tt/2XTzdLW
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