DEVAS MULTIMEDIA PRIVATE LIMITED vs. THE PRINCIPAL COMMISSIONER OF INCOME-TAX
WP/11618/2016HC Karnataka27 Sept 2019
Bench: The Hon’Ble Mr.Justice P.B. Bajanthri Writ Petition No.11618 Of 2016 (T-It) Between:
Section 142(4)Section 143(2)Section 143(3)Section 144Section 144CSection 263Section 92C
56(2)(viib) of the Act and the
same
is
enumerated
as
Income in Section 2(24)(xvi) pf
the Act. However, what is
bought into the ambit of
income
is
the
premium
received from a resident in
excess of the fair market value
of the shares. In this case
what is being sought to be
taxed is capital
