CBDT Circular granting relief to fresh issue of Shares was applied only once before it’s Withdrawal: FM
The Central Board of Direct Taxes ( CBDT ) had issued Circular 10/2018 dated 31.12.2018 to clarify that provisions of Section 56(2)(viia) of the...
![Loss incurred on Sale of Shares of Subsidiary Companies is Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "Loss incurred on Sale of Shares of Subsidiary Companies is Business Loss: ITAT [Read Order]")
![Mere Holding Shares for a Short Period won’t constitute Business Income: Bombay High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Shirdi-Trust-Taxscan.jpg "Mere Holding Shares for a Short Period won’t constitute Business Income: Bombay High Court [Read Judgment]")
![Receipt through Settlement of Shares is not ‘Business Income’ when it is done by settler of Trust by way of ESOP and not direct purchase from Market: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/01/Sale-Consideration-Business-Income-Taxscan.jpg "Receipt through Settlement of Shares is not ‘Business Income’ when it is done by settler of Trust by way of ESOP and not direct purchase from Market: Bombay HC [Read Judgment]")
Premium earned on Allotment of Preference Shares by a Loss-Making entity can’t be Taxed: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal has ruled that premium earned on allotment of preference shares by a loss-making entity cannot be taxed. The tribunal said the valuation of shares...
![Premium earned on Allotment of Preference Shares by a Loss-Making entity can’t be Taxed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/09/Shares-Taxscan.jpg "Premium earned on Allotment of Preference Shares by a Loss-Making entity can’t be Taxed: ITAT [Read Order]")
Intention of Assessee at the time of Purchase of Shares relevant to determine Tax Liability: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) in ACIT v. Shri Finance ruled that intention of assessee during the time of purchase of shares is a criterion to determine the tax...
![Intention of Assessee at the time of Purchase of Shares relevant to determine Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Intention of Assessee at the time of Purchase of Shares relevant to determine Tax Liability: ITAT [Read Order]")
Provisions of Unexplained Cash Credit does not attract If no Cash involved in Transaction of Allotment of Shares: Madras HC [Read Judgment]
A two-judge bench of the Madras High Court comprising the Chief Justice Indira Banerjee recently held that the provisions of section 68 of the Income Tax Act providing addition on account of...
![Provisions of Unexplained Cash Credit does not attract If no Cash involved in Transaction of Allotment of Shares: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/09/Unexplained-Cash-Credit-Madras-High-Court-Taxscan.jpg "Provisions of Unexplained Cash Credit does not attract If no Cash involved in Transaction of Allotment of Shares: Madras HC [Read Judgment]")
MCA notifies Issue & Transfer of all Shares in Dematerialised Form only by all Unlisted Public Companies [Read Notification]
The Ministry of Corporate Affairs (MCA) has notified that with effect from 2nd October, 2018, issue of further shares and transfer of all shares by unlisted public companies shall be in dematerialised...
Income from Huge Magnitude of Sale and Purchase of Shares can’t be treated as Capital Gains: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) last day held that the income derived by the assessee from the huge magnitude of sale and purchase of shares cannot be considered under the...
Frequent Transactions in Shares won’t Constitute ‘Business’ If Assessee treated the same as ‘Investment’: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata on June 13th held that frequent transactions in shares would not constitute ‘business’ if assessee treats these transactions as ‘investments’. The...
![Frequent Transactions in Shares won’t Constitute ‘Business’ If Assessee treated the same as ‘Investment’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Capital-Gain-Sale-of-SHares-Taxscan.jpg "Frequent Transactions in Shares won’t Constitute ‘Business’ If Assessee treated the same as ‘Investment’: ITAT [Read Order]")
Loss on Forfeiture of Shares is Revenue Expenditure If Assessee is a Trader in Shares: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of Tanvi Financial Services Private Limited v. Income Tax Officer ruling in favor of the assessee held that a loss on...
![Loss on Forfeiture of Shares is Revenue Expenditure If Assessee is a Trader in Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Revenue-Expenditure-Bombay-HC-Taxscan.jpg "Loss on Forfeiture of Shares is Revenue Expenditure If Assessee is a Trader in Shares: ITAT [Read Order]")