Addition made u/s 56(2)(vi) - Fair Value Trust (FVT) – ...

Department's Tax Option on Fair Value Trust u/s 56(2)(vi) is Irrevocable; No Reassessment to Beneficiary Allowed.

May 15, 2014

Case Laws Income Tax AT

Addition made u/s 56(2)(vi) - Fair Value Trust (FVT) – department having already exercised the option to tax the income directly in the hands of the trust, there is no provision to review the option taken in the case of trust and again to change the option from one beneficiary to another - AT

View Source

← Previous Next →

Addition made u/s 56(2)(vi) - Fair Value Trust (FVT) – ...

Department's Tax Option on Fair Value Trust u/s 56(2)(vi) is Irrevocable; No Reassessment to Beneficiary Allowed.

May 15, 2014

Case Laws Income Tax AT

You may also like:

The High Court held that u/r 11UA(2) of the Income Tax Rules, 1962, the assessee has the option to choose between the Net Asset Value method or the Discounted Cash Flow...

Income from other sources - Addition u/s.56(2)(viib) - The revenue authorities cannot force the assessee to adopt particular method for valuing the fair market value of...

What is taxable u/s.56(2)(vi, is receipt of money without consideration - money received by the assessee from various trusts could not have been taxed u/s.56(2)(vi) of...

Section 56(2)(viib) deals with the consideration received by a company for issue of shares at a premium. The assessee company issued equity shares at a premium, which...

Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

Addition u/s 56(2)(x) - sale of flats - difference between the value taken by the assessee and the fair market value (FMV) u/s 50C - The ITAT found that the value...

Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...

Addition u/s 56(2)(x) relates to joint ownership of property. If the consideration amount is fixed on the agreement date but registration occurs later, the stamp duty...

Addition u/s. 56(2)(vii) - difference between the stamp duty guideline value and purchase consideration i.e. 50 percent u/s 56(2)(vii)(b) - the Department cannot be...

Revision u/s 263 by CIT - Addition u/s 56(2) - The admitted position in the present case is that the assessee did not file any valuation report to substantiate the fair...

Addition u/s 56(2)(viib) - issue of shares at premium - working of fair market value as per 11UA(2)(a) - The ITAT observed that Rule 11UA(2) provides an option to the...

Conversion of loan into share capital attracts provisions of Section 56(2)(viib) of the Income Tax Act. The term 'consideration' used in the section has wide...

Assessee issued shares at fair market value computed as per Rule 11UA(2), but Assessing Officer (AO) and CIT(A) rejected valuation without justification. Statute...

Addition u/s 56(2)(viia) - purchase of shares of closely held company at 3.5 times of Book value - the provision of section 56(2)(viia) would be attracted in the case of...

Addition u/s 56(2)(viib) - Share Capital - excessive Share premium - closely held company - Rule 11UA - Assessee has failed to explain and justify issue of preference...

Quick Updates: