Succession of the proprietorship business in to a corporate ...

Proprietorship to Corporate: Section 47(xiv) Rules Out Indirect Benefits Beyond Share Allotment in Tax Transition.

April 9, 2012

Case Laws Income Tax AT

Succession of the proprietorship business in to a corporate entity - conditions prescribed in section 47 (xiv) - in the present case, it cannot be held that he has received consideration or benefit indirectly other than by way of allotment of shares, only because higher number of shares have been allotted due to revaluation - AT

View Source

← Previous Next →

Succession of the proprietorship business in to a corporate ...

Proprietorship to Corporate: Section 47(xiv) Rules Out Indirect Benefits Beyond Share Allotment in Tax Transition.

April 9, 2012

Case Laws Income Tax AT

You may also like:

Conversion of sole proprietorship firm into company - succession - Applicability of section 47(xiv) - Receipt of higher value of shares because of re-valuation of the...

Addition u/s 56(2)(vii)(c)(ii) - allotment of shares to assessee shareholder at a value lower - whether Tax to be paid by the shareholders or the company? - The shares...

Addition u/s 56(2)(viib) - application of Rule 11UA - FMV of redeemable preference shares - sub-Rule (2) of Rule 11UA deals valuation in respect of unquoted equity...

Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.

Addition u/s 56(2)(vii)(c) - related person - allotment of equity shares @ Rs. 10/- - book value of shares prior to allotment worked out at Rs. 552/- per share - the...

Addition u/s 56 - allotment of shares cannot be equated with receipt of shares - receipt of share there should be shares in existence and a person holding such share...

Unexplained share capital - share premium and share application money - Ld.CIT(A) has noted as assessee has filed the confirmation letters, copies of ITRs, copies of...

ITAT ruled in favor of assessee regarding addition under s. 56(2)(viib) for alleged excess share premium. The disputed amount arose from a nominal rounding difference of...

Disallowance of interest on interest-free loans was rejected as the assessee had utilized meager amounts from surplus funds for non-business purposes. Regarding bogus...

The Appellate Tribunal dismissed the Section 7 application filed by the Appellant, ruling that the share application money deposited by the Appellant with the Corporate...

Addition u/s 56(2)(viib) - Value of share premium received on allotment of 31248 shares - Valuation report obtained from the merchant bankers even they have issued a...

Addition u/s 56(2) - Allotment of shares - price less than the FMV - Merely by converting the share application money by allotting shares at a subsequent date cannot...

Initiation of CIRP - NCLT admitted the application - Financial Creditors - Share Application Money in the event of non-allotment of shares - Loan/Debt or not - Share...

Valuation of gifted shares - Explanation to Rule 2(9) of Part A, Schedule III of the W.T. Act. The certificate from the concerned stock exchange is only to state whether...

Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2019

Quick Updates: