Section 56(2)(viib) intends to tax unaccounted money received in garb of share premium

Clearview Healthcare P. Ltd Vs ITO (ITAT Delhi)

There are two limbs in Section 56(2)(viib) of the Act. As per explanation to Section 56(2)(viib) of the Act, the first limb is valuation to be made as per the prescribed method. In fact, the method for valuation of shares is prescribed under Rule 11UA of the Income-

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