Equity Shares Issuance to Sister Concern Not Taxable u/s 56(2)(viib); No Unaccounted Money Involved.

Equity Shares Issuance to Sister Concern Not Taxable u/s 56(2)(viib); No Unaccounted Money Involved. https://www.taxtmi.com/highlights?id=62009 Addition of share premium received on issue of equity shares u/s.56(2)(viib) - shares were issued to its sister’s concern only and the transactions are between two closely held companies and it cannot be classified or equated to generations/circulations of unaccounted money. - No additions - AT en-us Fri, 18 Feb 2022 12:56:08 +0530 Fri, 18 Feb 2022 12:56:08 +0530 TaxTMI RSS Generator Equity Shares Issuance to Sister Concern Not Taxable u/s 56(2)(viib); No Unaccounted Money Involved. https://www.taxtmi.com/highlights?id=62009 Addition of share premium received on issue of equity shares u/s.56(2)(viib) - shares were issued to its sister’s concern only and the transactions are between two closely held companies and it cannot be classified or equated to generations/circulations of unaccounted money. - No additions - AT Highlights Income Tax Fri, 18 Feb 2022 12:56:08 +0530 https://www.taxtmi.com/highlights?id=62009