PRL DEVELOPERS PRIVATE LIMITED,MUMBAI CITY vs. CIRCLE 8(2)(1), MUMBAI
In the result, ground V of the assessee is allowed
ITA 1031/MUM/2024[2016-17]Status: DisposedITAT Mumbai05 Jul 2024AY 2016-17
Bench: Shri Anikesh Banerjee & Shri Gagan Goyal
Section 143(3)Section 250Section 3Section 56(2)(viib)
money by such issuance of shares. The object of deeming an unjustified premium charged o, issue of share as taxable income under Section 56(2)(viih) is wholly inapplicable for transaction between holding and its subsidiary company where no income can be said to accrue to the u/fimati beneficiary
