https://www.taxtmi.com/highlights?id=71234 Addition u/s 56(1) - shares received by the assessee company at the time of amalgamation - the Revenue is not precluded from ascertaining as to whether the scheme of amalgamation was in compliance with the provisions of the Act so as to avail the benefit of Section 47(vi) of the Act. - the scheme of amalgamation of EBPL with the assessee company cannot be disregarded nor can it be held to be a ‘colourable device’. - AT en-us Tue, 01 Aug 2023 09:02:09 +0530 Tue, 01 Aug 2023 09:02:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71234 Addition u/s 56(1) - shares received by the assessee company at the time of amalgamation - the Revenue is not precluded from ascertaining as to whether the scheme of amalgamation was in compliance with the provisions of the Act so as to avail the benefit of Section 47(vi) of the Act. - the scheme of amalgamation of EBPL with the assessee company cannot be disregarded nor can it be held to be a ‘colourable device’. - AT Highlights Income Tax Tue, 01 Aug 2023 09:02:09 +0530 https://www.taxtmi.com/highlights?id=71234