Section 56(2)(viib) Not Applicable to Non-Resident Share Premium: ITAT Delhi

APCA Power Private Limited Vs DCIT (ITAT Delhi)

Introduction: In the case of APCA Power Private Limited Vs DCIT (ITAT Delhi), the Income Tax Appellate Tribunal (ITAT) reviewed a complex matter related to share premium received from a non-resident person. The assessment of Section 56(2)(viib) of the Income Tax Act for the Assessment Year 2015-16 was brought into scrutiny. The case also highlighted procedural issues surrounding the appeal process.

Analysis:

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