![Transfer of Land to Holding Company exempted from Capital Gain Tax: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/08/assessee-exemption-transfer-land-Taxscan.jpg "Transfer of Land to Holding Company exempted from Capital Gain Tax: Madras HC [Read Judgment]")
Transfer of Land to Holding Company exempted from Capital Gain Tax: Madras HC [Read Judgment]
The Madras High Court held that the assessee is entitled to exemption under Section 47(v) of Income Tax Act with respect to the transfer of land to...
IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) in DCIT v. M/s. Mercury Projects held that the amount paid to ROC for the enhancement of authorized share capital is not deductible from...
![IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Share-Capital-ITAT-Taxscan.jpg "IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]")
No Income Tax on Eligible Start-Ups on Issuing Share Capital at Excess Premium: Govt [Read Notification]
In a major relief to Start-ups, the Central Board of Direct Taxes (CBDT) has notified that Income Tax not payable on issuing share capital at excess premium by eligible start-ups. Section 56(2)(viib)...
![No Income Tax on Eligible Start-Ups on Issuing Share Capital at Excess Premium: Govt [Read Notification]](https://www.taxscan.in/wp-content/uploads/2018/02/Startups-Taxscan.jpg "No Income Tax on Eligible Start-Ups on Issuing Share Capital at Excess Premium: Govt [Read Notification]")
Understatement of Consideration must be established before taking Market Value of Share Capital Asset as Full value of Consideration: Delhi HC [Read Judgment]
In Arjun Malhotra vs. Commissioner of Income Tax, the Delhi High Court held that the market value of the shares quoted in the stock exchange on 5th May, 1998 cannot be taken indirectly invoking an...
![Understatement of Consideration must be established before taking Market Value of Share Capital Asset as Full value of Consideration: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/05/Market-Value-Taxscan.jpg "Understatement of Consideration must be established before taking Market Value of Share Capital Asset as Full value of Consideration: Delhi HC [Read Judgment]")
Interest on Fixed Deposits on Money Received in respect of Share Capital is not Assessable as ‘Other Income’: ITAT [Read Order]
In the Case, Assistant Commissioner of Income Tax vs. M/s Posco India Private Limited, Cuttack bench of Income Tax Appellate Tribunal (ITAT) recently held that interest on fixed deposits on money...
![Interest on Fixed Deposits on Money Received in respect of Share Capital is not Assessable as ‘Other Income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Share-Capital-Taxscan.jpg "Interest on Fixed Deposits on Money Received in respect of Share Capital is not Assessable as ‘Other Income’: ITAT [Read Order]")
Bogus Share Capital cannot be assessed as Company’s Share Capital as Amendment to Sec 68 has no Retrospective Effect: Bombay HC [Read Judgment]
In CIT v. M/s. Gagandeep Infrastructure Pvt.Ltd, the division bench of the Bombay High Court held that the amendment to s. 68 requiring explanation for source of Share capital/premium has prospective...
![Bogus Share Capital cannot be assessed as Company’s Share Capital as Amendment to Sec 68 has no Retrospective Effect: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "Bogus Share Capital cannot be assessed as Company’s Share Capital as Amendment to Sec 68 has no Retrospective Effect: Bombay HC [Read Judgment]")
Provisions relating to Unexplained Cash Credit u/s 68 are Applicable to Share Capital/ Premium even before the amendment in 2012: ITAT Kolkata [Read Order]
In M/s. Classic Flour & Food Processing Pvt Ltd v. CIT, the division bench of the Income Tax Appellate Tribunal (ITAT), Kolkata held that the provisions of section 68 of the Income Tax Act...
![Provisions relating to Unexplained Cash Credit u/s 68 are Applicable to Share Capital/ Premium even before the amendment in 2012: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Provisions relating to Unexplained Cash Credit u/s 68 are Applicable to Share Capital/ Premium even before the amendment in 2012: ITAT Kolkata [Read Order]")