INCOME TAX OFFICER, WARD 5(3),, NAGPUR vs. M/S. 21ST CENTURY INFRASTRUCTURE (INDIA) PVT. LTD., NAGPUR
In the result, the appeal of the Department is dismissed
ITA 207/NAG/2017[2012-13]Status: DisposedITAT Nagpur28 Jun 2022AY 2012-13
Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am
For Appellant: Shri MahaveerAtal, CAFor Respondent: ShriPiyushKohle, CIT-DR
Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 56
253
(Mum-ITAT) wherein it is held that it is the prerogative of the board of directors of the company to decide the share premium and it is the wisdom of the shareholders whether they want to subscribe to such heavy share premium
The provisions of section 56(2)(viib) of the Act have been specifically inserted by the Finance
