Forfeiture of amount - Addition of amount forfeited by assessee ...

Case Laws Income Tax

November 3, 2020

Forfeiture of amount - Addition of amount forfeited by assessee on share warrants u/s 43(5) - amount received on account of forfeiture of amount due to non payment towards warrants issue has to be treated as capital receipt and since the assessee has also transferred it to the capital reserve account in the balance sheet, the amount cannot be taxed as income. - AT

View Source

← Previous Next →

Forfeiture of amount - Addition of amount forfeited by assessee ...

Case Laws Income Tax

November 3, 2020

You may also like:

Addition u/s 56(2)(ix) - forfeited amount of application money collected on issuing shares against share warrants - The amount forfeited by the assessee out share...

Addition u/s 43(5) - Loss in commodity derivatives trading business was non-speculative - Reading clause (e) of the first proviso to section 43(5), and sections 70(1)...

Addition of amount shown as “Share Premium” as ‘Income from other sources' - genuineness of the said transaction of purchase of 5 lakh shares of the assessee company @...

Addition u/s 28(iv) or 43(1) - Receipt of Special Redistributors' Incentive - The amount of incentive received by the assessee from M/s. Usha International Ltd....

Addition u/s 68 - increase in share capital and share premium - As source of source is proved by the assessee in the instant case though the same is not required to be...

Disallowance on account of forfeiture of shares warrants - loss claimed by assessee has not been offered to tax by ECL - what will be the tax treatment of the forfeited...

Revision u/s 263 - speculative loss in view of Section 43(5) - transactions were duly backed by contract notes, transactions were entered into by account payee cheque....

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

Disallowance of provision for foreign exchange fluctuations and loss on forward contracts u/s 43(5) regarding speculative transactions. It clarifies that foreign...

Nature of income - Forfeiture of security deposit - termination of certain lease agreement - from assessee’s point of view, there is no extinguishment of any right. The...

Income from share transactions - the assessee had indulged in a dubious share transaction meant to account for the undisclosed income in the garb of long term capital...

The amount of forfeited share application money transferred to “warrant, forfeiture account” in the capital reserve, is a capital receipt only and cannot be taxed as...

Speculative loss or not - Set off and carry forward of loss arising from derivative transactions in currency segment - In essence, an 'eligible transaction' [as defined...

Speculative transactions - set off of the loss - transaction in derivatives on recognized stock exchange as defined under Section 43 (5) (d) of the Income Tax Act, 1961...

Sale/purchase of shares - capital gains - Merely because the assessment of speculation profit is as per the provision contained u/s 43(5) would not lead to ipso facto...

Quick Updates: