Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./Ita Nos.113 & 114/Srt/2020 (िनधा"रणवष" / Assessment Years: (2012-13 &2013-14) (Virtual Court Hearing) Deputy Commissioner Of Income- Vs. Bindal Silk Mills Pvt. Ltd., 270, Bindal House, Kadodara Char Tax, Circle-1(1)(1), Room No.108, Rasta, Nr. Kumbharia Bus Stand, Surat- 1St Floor, Aaykar Bhavan, Majura 394210 Gate, Surat -395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacb 9519 Q (Applicant ) (Respondent)
56(2)(viib), introduced by Finance Act, 2012 was made applicable with effect from 1-4-2013 i.e. A.Y. 2013- 14, and hence, statutorily there was no restriction on acceptance of share capital and premium beyond the market value of shares of the company. The appellant's case is found covered by the, following binding judgments of higher judicial authorities