https://www.taxtmi.com/caselaws?id=400508 The Tribunal upheld the CIT(A)'s decisions for A.Y. 2014-15 and A.Y. 2015-16, ruling that amounts credited to the capital reserve and capital contributions in the form of shares were not taxable under Sections 56(1) or 56(2)(viia) of the Income Tax Act. The Tribunal found that the transactions were in the capital field and not subject to taxation as income, dismissing the revenue's appeals. en-us Wed, 04 Nov 2020 00:00:00 +0530 Sat, 07 Nov 2020 09:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400508 The Tribunal upheld the CIT(A)'s decisions for A.Y. 2014-15 and A.Y. 2015-16, ruling that amounts credited to the capital reserve and capital contributions in the form of shares were not taxable under Sections 56(1) or 56(2)(viia) of the Income Tax Act. The Tribunal found that the transactions were in the capital field and not subject to taxation as income, dismissing the revenue's appeals. Case-Laws Income Tax Wed, 04 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400508