https://www.taxtmi.com/highlights?id=59957 Addition u/s 56 - allotment of shares through right issue @1 per share - difference between FMV and the consideration paid by the assessee - the fact that intent of introducing the provisions was anti-abusive measures still remain intact and there is no reason to depart from the understanding that the provisions were counter evasion mechanism to prevent laundering of unaccounted income. - on the given facts and circumstances, the impugned additions as made by Ld. AO in the assessment order are not sustainable in the eyes of law. - AT en-us Tue, 05 Oct 2021 08:41:30 +0530 Tue, 05 Oct 2021 08:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59957 Addition u/s 56 - allotment of shares through right issue @1 per share - difference between FMV and the consideration paid by the assessee - the fact that intent of introducing the provisions was anti-abusive measures still remain intact and there is no reason to depart from the understanding that the provisions were counter evasion mechanism to prevent laundering of unaccounted income. - on the given facts and circumstances, the impugned additions as made by Ld. AO in the assessment order are not sustainable in the eyes of law. - AT Highlights Income Tax Tue, 05 Oct 2021 08:41:30 +0530 https://www.taxtmi.com/highlights?id=59957