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Income from Share Allotment Exceeding FMV Not Taxable u/s 56(2)(viib), Rule 11UA(2) Applied.

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....Addition of income from other sources u/s 56(2)(viib) - allotment of shares at a price which exceeds fair market value (FMV) of the share - Revaluation reserves need not be deducted while calculating the fair market value, as per rule 11UA(2) - No additions.....

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