Violation of Companies Act not turn share premium into taxable revenue receipt

Shendra Advisory Services P. Ltd. Vs DCIT (Bombay High Court)

This article explores the legal battle between Shendra Advisory Services P. Ltd. (assessee) and the Deputy Commissioner of Income Tax (DCIT) (Revenue) that reached the Bombay High Court. The central question revolves around the taxability of share premium received by the assessee, and whether a potential violation of the Companies Act impacts this taxability.

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