Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2011 Year 2011 This

Even if it be assumed that the subscribers to the share capital ...


Company Share Capital from Non-Genuine Subscribers Not Classified as Undisclosed Income.

May 19, 2011

Case Laws     Income Tax     HC

Even if it be assumed that the subscribers to the share capital were not genuine, such share capital could not be regarded as undisclosed income of the company

View Source

 


 

You may also like:

  1. Reduction of share capital - Even though the public shareholders/non promotor shareholders had objected to the reduction of share capital in the EGH but the majority...

  2. Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

  3. Addition towards undisclosed income being write back of redeemable non cumulative preference shares - write back of preference share capital cannot be taxed u/s 28(iv)...

  4. Addition u/s 68 - credit of undisclosed income - it was declared before settlement commission that company has earned the undisclosed income and routed in books through...

  5. Supply of Services - activity of holding of shares of subsidiary company by holding company - During the proceedings, the Central and State Governments issued...

  6. Contribution for allotment of equity shares - This Bench is of the view that whether a company is in genuine need of more capital or not, and the route to be adopted for...

  7. Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

  8. Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be...

  9. Addition u/s 68 - share capital and share premium - no enquiries were conducted by the ld AO u/s 133(6) and/or 131 from the share subscribers - the assessee by producing...

  10. Addition u/s 68 - Bogus share capital and share premium received. The assessee failed to prove the identity and creditworthiness of the subscriber companies and the...

  11. Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016 - Notification

  12. Chapter IV - The Companies (Share Capital and Debentures) Rules, 2014 - Notification

  13. Addition u/s 68 - unexplained share capital - Even though there were circumstances leading to suspicion, yet having taken an action u/s.132 and enquiries made in the...

  14. Deletion of LTCG as non-genuine - transactions in shares - Deletion of undisclosed commission paid for arranging accommodation entries - assessee proves that...

  15. Unexplained cash credit u/s 68 - bogus share capital/share premium - The tribunal noted that the appellant's company had witnessed significant growth over the years,...

 

Quick Updates:Latest Updates