ITAT remanded matter to determine whether closely help Co. received share application money exceeding FMV from NR

INCOME TAX: In order to invoke provisions of section 56(2)(viib) in case of company in which public are not substantially interested, it is essential that amount in excess of face value of share to be issued is received from a resident

from www.taxmann.com Latest Case Laws https://ift.tt/3f3Z2xr