Search: penalty u/s 271

1 result for “penalty u/s 271”+ Section 56(2)(x)clear

Sorted by relevance

Delhi137 Mumbai111 Jaipur49 Raipur28 Pune20 Ahmedabad19 Chennai17 Bangalore17 Rajkot15 Chandigarh13 Hyderabad12 Nagpur8 Kolkata7 Lucknow7 Guwahati5 Allahabad5 Indore4 Surat3 Jodhpur2 Agra2 Patna1 Amritsar1

JOINT COMMISSIONER OF INCOME TAX (OSD) CIRCLE-3, FEROZEPUR vs. MEASAGE OM SONS MARKETING PRIVATE LIMITED, FARIDKOT

In the result, the appeal of the revenue bearing ITA No

ITA 407/ASR/2019[2015-16]Status: DisposedITAT Amritsar07 Jul 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)Section 37(1)Section 56(2)(viib)

X 771309 = Rs.3,38,60,465/-) over and above the fair market value of the shares. This amount of Rs.3,38,60,465/- is taxable as per the provisions of section 56(2)(viib) of the Income Tax Act, 1961. Accordingly, the amount of Rs.3,38,60,465/- is added back to the returned income of the assessee