Income Tax Act Sections 2(22)(e) and 56(2)(vi) applied to equity share transfer without company asset involvement. No corporate veil piercing.

Income Tax Act Sections 2(22)(e) and 56(2)(vi) applied to equity share transfer without company asset involvement. No corporate veil piercing. https://www.taxtmi.com/highlights?id=20491 Piercing the corporate veil - Application of section 2(22)(e) and 56(2)(vi) - only the equity shares of M/s. SKM Egg Products Export (India) Ltd., were transferred and not any assets held by the company were transferred, therefore the issue of piercing the corporate veil of this company will not arise - AT en-us Wed, 29 Oct 2014 07:56:46 +0530 Wed, 29 Oct 2014 07:56:46 +0530 TaxTMI RSS Generator Income Tax Act Sections 2(22)(e) and 56(2)(vi) applied to equity share transfer without company asset involvement. No corporate veil piercing. https://www.taxtmi.com/highlights?id=20491 Piercing the corporate veil - Application of section 2(22)(e) and 56(2)(vi) - only the equity shares of M/s. SKM Egg Products Export (India) Ltd., were transferred and not any assets held by the company were transferred, therefore the issue of piercing the corporate veil of this company will not arise - AT Highlights Income Tax Wed, 29 Oct 2014 07:56:46 +0530 https://www.taxtmi.com/highlights?id=20491