Tag: Rule 11UA

No addition u/s 56(2)(viib) when no money/consideration was received by assessee on issue of shares which were allotted merely on account of conversion of outstanding loans In a recent judgment, Hon’ble High Court of Himanchal Pradesh has held that no addition can be made u/s 56(2)(viib) when no …

Rule 11UAB-Determination of fair market value for inventory of immovable property, jewellery, paintings, sculptures, work of art, shares securities etc. Ministry of Finance (Department of Revenue) Central Board of Direct Taxes Notification No. 42/2018 New Delhi, the 30th August, 2018 S.O. 4213(E).—In exercise of the powers conferred by …

Valuation of unquoted equity shares new FMV formula-Rule 11UA MINISTRY OF FINANCE (Department of Revenue) Notification No. 61 /2017 New Delhi, the 12th July, 2017 INCOME-TAX G.S.R. 865(E).—In exercise of the powers conferred by section 50CA and sub-section (2) of section 56 read with section 295 of the …