“Section 56(2)(vib)”

Section References (mined)Section 56Section 56(2)(vib)27 judgments

The decision most relied on for Section 56(2)(vib) is Reckitt Benckiser (India) Ltd. v. Additional CIT (56 Taxmann.com 415), cited in 33 judgments on BharatTax.

Leading authorities on Section 56(2)(vib)

Reckitt Benckiser (India) Ltd. v. Additional CIT

56 Taxmann.com 415 · 2015 · High Court

citing judgments

Profits and gains from scraps resulting from a manufacturing process are eligible for deduction under Section 80IC of the Income Tax Act.

Tops Group Electronic Systems Ltd. v. ITO

67 Taxmann.com 310 · 2016 · ITAT

citing judgments

A transfer pricing adjustment re-characterizing equity investment as a loan is not permissible if it questions the commercial expediency of the assessee's transaction. Such adjustments are also not applicable for assessment years commencing on or before April 1, 2016, as per Section 92CE(1) proviso (ii).

Judgments citing Section 56(2)(vib)

ACIT Circle-7(2), New Delhi vs. Dhruv Milkose Pvt Ltd, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 8431/DEL/2019[2015-16]Status: DisposedITAT Delhi08 Feb 2024AY 2015-16

Bench: Kul Bharat & Shri Pradip Kumar Kedia

For Appellant: Shri Pawan Chakrapani, FCAFor Respondent: Shri Vivek Kumar Upadhyay, Sr.DR

Section 143(3)Section 56(2)(viib)

with the projected cash fow submitted by the assessee, then in such situation if the projected cash floor is accepted then provisions of section 56(2)(vib) will become redundant. Therefore an objective evaluation of the valuation report submitted by the assessee deserves to be carried out. Further, the valuation

Mira Mahal Premises Management Pvt. Ltd., Mumbai vs. CIT (A)- 4, Mumbai

In the result, the appeal of assessee is allowed for statistical purposes

ITA 7158/MUM/2018[2014-15]Status: DisposedITAT Mumbai02 Feb 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry, Jm & Ms Padmavathy S, Am

For Appellant: Shri Bhavin Gala, CAFor Respondent: Shri Mahita Nair, Sr. DR

Section 56(2)(viib)

artificially increase the book-value of the assets in order to arrive at a pre-determined value of the share. Provisions of section 56(2)(vib) are anti-tax evasion provisions enacted to avoid introduction of unaccounted or inflated sums without proper explanation of the legitimate source of funds being

Tiki Tar Industries Baroda Ltd, Vadodara vs. The Pr. CIT-2, Vadodara

In the result, the appeal of the assessee is allowed as above

ITA 166/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad24 Jan 2024AY 2014-15

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year :2014-15 Tiki Tar Industries Baroda Ltd. Pr.Cit-2 8Th Floor, Neptune Tower Vs Vadodara. Baroda Productivity Council Alkapuri, Vadodara Pan : Aadct 8382 Q

For Appellant: Shri Akhilendra Pratap Yadav, CIT-DR

Section 143(2)Section 143(3)Section 263Section 263oSection 3

assessee before him. He has also drawn our attention to recent decision of the ITAT, Raipur Bench (supra) holding that the provisions of section 56(2)(vib) is not invocable in the case of Right Issue, as is the facts in the present case. 19. We are not in agreement

Vaaan Infra Private Limited, Haryana vs. Pr, CIT Delhi-7, Delhi

ITA 1102/DEL/2022[2015-16]Status: DisposedITAT Delhi24 Jan 2024AY 2015-16

Bench: PCIT, Delhi-9, however the order passed by Hon'ble PCIT, Delhi-7 on 30.03.2021.

Section 263Section 56(2)(vib)Section 56(2)(viib)Section 56(25)(viib)

2 On the facts and circumstances of the case & in law, the Hon'ble PCIT grossly erred in applying the provisions of section 56(2)(vib) of the Act without appreciating the basic intention of the legislature while introducing Section 56(2)(viib) of the Act. 5.3 On the facts

Shree Sita Pulses Pvt. Ltd., Durg vs. Deputy Commissioner of Income Tax-1(1), Bhilai, Durg

In the result, the appeal of the assessee is allowed for statistical purposes in terms of the aforesaid observations

ITA 217/RPR/2023[2018-19]Status: DisposedITAT Raipur18 Oct 2023AY 2018-19

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 217/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 Shree Sita Pulses Private Limited Sita Group, Behind District Court, Millpara, Durg (C.G.) Pan : Aascs8895E .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.)

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Satya Prakash Sharma, Sr. DR

Section 143(3)Section 56(2)(viib)

आयकर अपील"य अ"धकरण "यायपीठ “एक-सद"य” मामला रायपुर म" IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH

DCIT 1(1), Bhopal vs. M/S. Decore Thermal Power (P) Ltd., Bhopal

In the result, the appeal of the revenue as well as cross objection of the

ITA 15/IND/2020[2016-17]Status: DisposedITAT Indore31 Jul 2023AY 2016-17

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(2)Section 143(3)Section 56(2)(vib)Section 56(2)(viib)Section 56(2)(viilb)Section 56(2)(vilb)Section 68

holding that in case of demerger there is a tripartite agreement and therefore, such transactions in case of demerger are not covered under section 56(2)(vib) of the Act, when all conditions of section 56(2)(viib) being applicable in the case of the assessee has been discussed ... submitted that the objective of insertion of any provision of law is relevant for determining the true scope of the provision. Section 56(2)(vib) was introduced by Finance Act, 2012 with effect from 1 April 2013 (AY 2013- 14) to include ‘share premium’ received by a company in excess

Income Tax Officer 11(3)(2), Mumbai vs. M/S. Vastu Minerals Private Limited, Mumbai

In the result, the appeal filed by the Revenue is allowed for statistical purposes

ITA 6115/MUM/2017[2010-11]Status: DisposedITAT Mumbai10 Mar 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Amarjit Singh () Assessment Year: 2010-11 Income Tax Officer-11(3)(2), M/S Vastu Minerals Pvt. Ltd., R.No. 428, Aayakar Bhavan, M.K. Vs. 4, Arun Villa, Subhash Road-B, Vile Road, Parle (E), Mumbai-400020. Mumbai-400057. Pan No. Aaccv 0308 B Appellant Respondent

For Appellant: Mr. Rohit Golecha, ARFor Respondent: Mr. Arvind Sontakke, DR

Section 68

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI AMARJIT