TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR
In the result, assessee’s appeal is allowed for statistical purposes
ITA 400/NAG/2024[2014-15]Status: DisposedITAT Nagpur04 Mar 2025AY 2014-15
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Madhav VichoreFor Respondent: Shri Abhay Y. Marathe
Section 56(2)Section 56(2)(viib)
7. On the facts and circumstances in the law, the Learned CIT(A) erred to disregard the provisions of section 56(2) (viib), about occurrence of deeming income under said section, which is only at the time of receipt in any previous year (being consideration for issue of shares that exceeds the face value of such shares) and disregarding
