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No Section 56(2)(viib) addition for allotment of equity shares by Subsidiary to holding company at premium
Case Law Details
- Case Name
- Rugby Regency P. Ltd Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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Rugby Regency P. Ltd Vs ACIT (ITAT Delhi)
In a recent case between Rugby Regency P. Ltd and ACIT (ITAT Delhi), a crucial issue regarding the allotment of equity shares at a premium was contested under Section 56(2)(viib) of the Income Tax Act. The dispute revolved around the valuation method adopted for determining the fair market value (FMV) of shares allotted by the subsidiary to its holding company. This article delves into the legal intricacies of the case and sheds light on the precedents set by the judiciary in similar matters.
Background: Rugby Regency P. Ltd issued 12,03,000 equity sha...
