https://www.taxtmi.com/acts?id=15940 Amendment requires that where a closely held company records share application money, share capital, share premium or similar credits, the recorded resident must also explain the nature and source of the amount, and the Assessing Officer must find that explanation satisfactory; an exception applies for amounts recorded in the name of a venture capital fund or venture capital company. en-us Fri, 16 Mar 2012 14:29:17 +0530 Fri, 16 Mar 2012 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15940 Amendment requires that where a closely held company records share application money, share capital, share premium or similar credits, the recorded resident must also explain the nature and source of the amount, and the Assessing Officer must find that explanation satisfactory; an exception applies for amounts recorded in the name of a venture capital fund or venture capital company. Act-Rules Bills Fri, 16 Mar 2012 14:29:17 +0530 https://www.taxtmi.com/acts?id=15940