TaxTMI 
TaxTMI 
shares transfer u/s 56(2)(vi)(c)
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....hares transfer u/s 56(2)(vi)(c)<br> Query (Issue) Started By: - satbir singhwahi Dated:- 16-2-2021 Last Reply Date:- 4-3-2021 Income Tax<br>Got 2 Replies<br>Income Tax<br>Sir, Shares of closely held company were purchased by director at fmv, but consideration was not paid . So now local court has ordered to return shares.Further application pending at company law tribunal to restore back shares t....
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....o original allotees. The issue is with income tax , Assessing Officer is charging income u/s 56(2)(vi)(c).pls guide. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Your query is incomplete. Please give correct version of the case. Reply By satbir singhwahi: The Reply: shares transfer u/s 56(2)(vii)(c) Sir, Shares of closely held company were purchased by director at fmv, but consideration ....
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....was not paid . So now local court has ordered to return shares.Further application pending at company law tribunal to restore back shares to original allotees. The issue is with income tax , Assessing Officer is charging income u/s shares transfer u/s 56(2)(vi)(c) Sir, Shares of closely held company were purchased by director at fmv, but consideration was not paid . So now local court has orde....
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....red to return shares.Further application pending at company law tribunal to restore back shares to original allotees. The issue is with income tax , Assessing Officer is charging income u/s 56(2)(vi)(c).pls guide. .pls guide. Sir The A.O. has opened case u/s 148, and transactions of shares purchased by Director from other shareholders at FMV, the A.O. is taxing u/s 56(2)(vi)(c).But our case is....
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.... that though shares were purhased but payment was deffered.So case went to Lok Adalat (Public Utility Services) , Faridkot., vide application no. 109/10.10.2019 , date of decision 15.10.2019.Now shares returned to original shareholders as per order. Now application is pending at National company law tribunal Chandigarh under section 58 and 59 read with other provisions of company Act, 2013., to re....
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....store shares to the original holders in company records. Sir KIndly Guide.<br> Discussion Forum - Knowledge Sharing ....