“Section 56(1)(viib)”

Section References (mined)Section 56Section 56(1)(viib)3 judgments

BLACKBERRY PROPERTIES PVT. LTD.,KOLKATA vs. INCOME TAX OFFICER, WARD-10(2), KOLKATA

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

ITA 332/KOL/2025[2017-18]Status: DisposedITAT Kolkata04 Aug 2025AY 2017-18

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 142(1)Section 143(2)Section 143(3)Section 250Section 56(2)(viib)

notice was issued as to why this amount of Rs. 32,80,000/- should not be treated as income from other sources under section 56(1)(viib) of the Act and the same should not be added to your total income. In this regard the assessee made a response ... assessee company's explanation is not satisfactory. So, amount of Rs. 32,80,000/- is treated as income from other sources under section 56(1)(viib) of the Act and the same is added back to total income of the assessee company. Penalty proceedings under section 270A

SHAHA FINLEASE PRIVATE LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX 13(2)(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 4182/MUM/2023[2013-14]Status: DisposedITAT Mumbai17 Dec 2024AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 143(3)Section 56Section 56(1)(viib)Section 68

highly abnormal looking to worth of the Company. Accordingly, he issued a show-cause notice as to why the provision of Section 56(1)(viib) should not be invoked. 4. In response, the assessee submitted that the amounts received by the assessee company from the share premium were Director ... justify the premium of Rs.40 for issuance of shares on face value of Rs.10/-. The ld. AO noted that as per Explanation to Section 56(1)(viib), the valuation method that is, Rule 11UA was 4 Shaha Finlease Pvt. Ltd., introduced w.e.f. 29/11/2012. Therefore, the shares issued in September

M/S. PISCES ESERVICES PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 3(1)(1), BANGALORE

In the result, the appeal filed by the assessee is allowed

ITA 310/BANG/2023[2018-19]Status: DisposedITAT Bangalore25 Jul 2024AY 2018-19

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Years : 2018-19

For Appellant: Shri KR Pradeep & Ms. Girija G.P, AdvocatesFor Respondent: Shri Vilas Shinde, CIT (DR)

Section 56(2)(viib)

IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K, JUDICIAL