Relaxation from the conditions of issue of shares at premium in excess of Fire Market Value u/s 56(2)(viib) where approval has been granted by the Inter-Ministerial Board of Certification

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....nt of Revenue) (Central Board of Direct Taxes) NOTIFICATION NO. 24/2018 New Delhi, the 24th May, 2018 INCOME-TAX S.O. 2088(E).-In exercise of the powers conferred by the clause (ii) of the proviso to clause (viib) of sub-section (2) of section 56 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification number S.O. 1160 dated 14th June, 2016 issued by Departme....

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....anuary, 2019]. 2. This notification shall be deemed to have come into force retrospectively from the 11th April, 2018. [F. No.370142/5/2018-TPL (Pt)] PRAVIN RAWAL, Director (Tax Policy and Legislation)   ********** Notes 1. Substituted vide NOTIFICATION NO. 9/2019 dated 31-01-2019 before it was read as "consideration received by a company for issue of shares that exceeds ....