https://www.taxtmi.com/highlights?id=58720 Addition u/s 56(2)(viib) - excess premium collected on issue of equity shares from resident individuals - assessee is a recognized startup from DPIIT, Ministry of Commerce & Industry, Govt. of India and hence, it is outside scope of the provisions of section 56(2(viib) of the Act, in respect of consideration received for issue of shares at premium. The learned CIT(A), after considering relevant facts has rightly deleted additions made by the Assessing Officer. - AT en-us Sat, 10 Jul 2021 13:50:01 +0530 Sat, 10 Jul 2021 13:50:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58720 Addition u/s 56(2)(viib) - excess premium collected on issue of equity shares from resident individuals - assessee is a recognized startup from DPIIT, Ministry of Commerce & Industry, Govt. of India and hence, it is outside scope of the provisions of section 56(2(viib) of the Act, in respect of consideration received for issue of shares at premium. The learned CIT(A), after considering relevant facts has rightly deleted additions made by the Assessing Officer. - AT Highlights Income Tax Sat, 10 Jul 2021 13:50:01 +0530 https://www.taxtmi.com/highlights?id=58720