Friday, April 16, 2021

No angel tax on issue of shares at face value to shareholders of amalgamating Co.: ITAT

INCOME TAX : Issue of shares at face value by amalgamated company to shareholders of amalgamating company in pursuance to scheme of amalgamation does not fall under section 56(2)(viib)

from www.taxmann.com Latest Case Laws https://ift.tt/3wVDQ6V

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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