https://www.taxtmi.com/caselaws?id=395828 The ITAT Bangalore addressed the invocation of section 56(2)(viib) of the Income Tax Act for taxing share premium and the taxation of share capital under section 68 without a specific hearing opportunity. Relying on legal precedents, the Tribunal directed a fresh decision by the assessing officer in both cases. The appeal was partly allowed for statistical purposes, emphasizing the significance of adhering to legal procedures and ensuring fair hearings in tax assessments. en-us Fri, 29 May 2020 00:00:00 +0530 Tue, 09 Jun 2020 22:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395828 The ITAT Bangalore addressed the invocation of section 56(2)(viib) of the Income Tax Act for taxing share premium and the taxation of share capital under section 68 without a specific hearing opportunity. Relying on legal precedents, the Tribunal directed a fresh decision by the assessing officer in both cases. The appeal was partly allowed for statistical purposes, emphasizing the significance of adhering to legal procedures and ensuring fair hearings in tax assessments. Case-Laws Income Tax Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395828