Case Law Details
Case Name : Shendra Advisory Services P. Ltd. Vs DCIT (Bombay High Court)
Appeal Number : Income Tax Appeal No. 299 of 2021
Date of Judgement/Order : 09/02/2024
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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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.
Factual Background:
- Shendra Advisory Services P. Ltd., a joint venture between Indian promoters and a Dutch company (PMG), issued shares at a premium to both parties.
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