No addition  on account of Share Premium received  in excess of  FMV u/s 56(2)(viib) of  Income Tax Act: ITAT  [Read Order]

addition - Share Premium - No addition on account of Share Premium - FMV - taxscan

The Delhi  bench of Income Tax Appellate Tribunal (ITAT) recently held that no addition shall be made on account of share premium received in excess of Fair Market Value (FMV) under Section 56(20(viib0 of the Income Tax Act, 1961. The Assessee Continental Corrugators Pvt. Ltd  is engaged in the business of corrugated boxes.During the scrutiny…

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