Home Highlights January 2018 Year 2018 This

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1. Reduction of issued, subscribed, and paid-up equity share capital u/s 66 of the Companies Act, 2013. Compliance with Sections 66(1), 66(2), and 66(3) satisfied....

2. Conversion of partly up equity shares into fully paid-up equity shares - the board of directors are well within the powers to make a call on the shareholders in respect...

3. Income derived from the sale of equity shares - business income or Long Term Capital Gain - the said equity shares not only for one year but for more than 16 years and...

4. Regulations for SR equity shares - "SR equity shares" means the equity shares of an issuer having superior voting rights compared to all other equity shares issued by that issuer.

5. Revision u/s 263 - issue of bonus shares would amount to distribution of dividend or not - the assessee has issued only equity shares and there are no preference shares....

6. Levy of Service Tax - Brokerage/Commission received towards the services relating to public issue of Equity Shares/Bonds - The issue is no longer res-Integra as the...

7. Taxation of excess share premium received u/s 56(2)(viib) - basis of valuation - preference share versus equity shares - First it is to be decided that, which clause of...

8. Addition u/s 56(2)(viib) - valuation under Rule 11UA (2) - Even if preferential shares and equity shares are considered to be falling within the purview of Section...

9. The ITAT held that u/s 56(2)(viib), addition on premium amount in excess of FMV for issuing Optional Convertible Preference Shares to holding company is unsustainable....

10. Nature of expenditure - addition of write off of investments - the claim of loss accruing or arising as investment in equity shares, non-convertible debentures and zero...

11. 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...

12. Bogus STCG or not - Since the source of purchase has been disputed as the registration of broker was cancelled much before the transaction of purchase made by the...

13. Taxation of capital gains proposed to be rationalized and simplified. Holding periods reduced to two categories: 12 months for listed securities, 24 months for other...

14. The ITAT considered the issue of addition u/s 2(22)(b) r.w.s. 56(2)(viia) concerning the treatment of bonus shares received by the assessee. The AO treated the bonus...

15. Short Term capital Gains - Transfer / Conversion of Redeemable Cumulative Convertible Preference Share and Fully Compulsory Convertible Preference Shares to equity...