https://www.taxtmi.com/highlights?id=70446 Addition u/s 56(2)(viia) - purchase of shares of closely held company at 3.5 times of Book value - the provision of section 56(2)(viia) would be attracted in the case of a recipient firm or company which receives the shares of a company without any consideration or for a consideration which is less than the aggregate fair market value of the shares by an amount exceeding fifty thousand rupees. - CIT(A) rightly deleted the additions - AT en-us Tue, 20 Jun 2023 15:49:15 +0530 Tue, 20 Jun 2023 15:49:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70446 Addition u/s 56(2)(viia) - purchase of shares of closely held company at 3.5 times of Book value - the provision of section 56(2)(viia) would be attracted in the case of a recipient firm or company which receives the shares of a company without any consideration or for a consideration which is less than the aggregate fair market value of the shares by an amount exceeding fifty thousand rupees. - CIT(A) rightly deleted the additions - AT Highlights Income Tax Tue, 20 Jun 2023 15:49:15 +0530 https://www.taxtmi.com/highlights?id=70446