Difference between purchase and market price of shares quoted on BSE/NSE is deemed benefit taxable u/s 56(2)(vii)

Radhika Roy Vs DCIT (ITAT Delhi)

Conclusion: Enhancement of assessee’s income on account of difference between the purchase price of the shares of NDTV limited at Rs 4 per share and the market price of those shares quoted on recognized stock exchange at Rs. 140 per share was a benefit taxable u/s 56 (2)( vii)  as assessee could not justify that there was no motive of tax evasion in the same.

Held: Assessee had purchased shares of NDTV limited at the rate of Rs 4/- per share fro

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