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Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Share premium received on a fresh issue of equity shares to a non-resident shareholder is treated as a capital-account receipt rather than taxable income, unless another charging provision applies. The limited statutory rule taxing excess premium over fair market value is identified as applying to premiums received from residents. Reassessment based on an alleged sale of shares is unsustainable where the record instead shows a fresh allotment. Introducing an uncommunicated objection to the genuineness of the issue without allowing a response breaches natural justice, particularly where no fresh tangible material supports the shift. CBDT instructions governing capital-account share premium bind field officers.
Share premium received on a fresh issue of equity shares to a non-resident shareholder is treated as a capital-account receipt rather than taxable income, unless another charging provision applies. The limited statutory rule taxing excess premium over fair market value is identified as applying to premiums received from residents. Reassessment based on an alleged sale of shares is unsustainable where the record instead shows a fresh allotment. Introducing an uncommunicated objection to the genuineness of the issue without allowing a response breaches natural justice, particularly where no fresh tangible material supports the shift. CBDT instructions governing capital-account share premium bind field officers.
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