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Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Valuation of shares invoking Rule 11UA and resultant addition made u/sec. 56(2)(vii)(c)(ii) - difference in FMV of the shares and the consideration paid by the assessee - whatever the shares allotted to the assessee was from the interest of his brother who is a close relative - there is no case for making any addition for allotment of shares.
Valuation of shares invoking Rule 11UA and resultant addition made u/sec. 56(2)(vii)(c)(ii) - difference in FMV of the shares and the consideration paid by the assessee - whatever the shares allotted to the assessee was from the interest of his brother who is a close relative - there is no case for making any addition for allotment of shares.
Note: It is a system-generated summary and is for quick reference only.