Preference Shares Converted to Equity; No Addition u/s 68 Due to Lack of Cash Credit.

Preference Shares Converted to Equity; No Addition u/s 68 Due to Lack of Cash Credit. https://www.taxtmi.com/highlights?id=49023 Addition u/s 68 - conversion of preference share into equity share - the only doubt is that the value of share premium charged is not truly reflecting the intrinsic value of the equity shares of the company - the amount of preference shares credited in the earlier year and no cash/sum credited in the books of accounts in current year which is the essential condition to apply the provisions of u/s 68 - no addition en-us Sat, 31 Aug 2019 09:01:54 +0530 Sat, 31 Aug 2019 09:01:54 +0530 TaxTMI RSS Generator Preference Shares Converted to Equity; No Addition u/s 68 Due to Lack of Cash Credit. https://www.taxtmi.com/highlights?id=49023 Addition u/s 68 - conversion of preference share into equity share - the only doubt is that the value of share premium charged is not truly reflecting the intrinsic value of the equity shares of the company - the amount of preference shares credited in the earlier year and no cash/sum credited in the books of accounts in current year which is the essential condition to apply the provisions of u/s 68 - no addition Highlights Income Tax Sat, 31 Aug 2019 09:01:54 +0530 https://www.taxtmi.com/highlights?id=49023