Valuation of shares invoking Rule 11UA and resultant addition ...
No Additional Tax Liability on Shares Allotted from Brother's Interest u/s 56(2)(vii)(c)(ii) and Rule 11UA.
January 28, 2020
Case Laws Income Tax AT
Valuation of shares invoking Rule 11UA and resultant addition made u/sec. 56(2)(vii)(c)(ii) - difference in FMV of the shares and the consideration paid by the assessee - whatever the shares allotted to the assessee was from the interest of his brother who is a close relative - there is no case for making any addition for allotment of shares.
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