18 March 2014

S. 56(2)(vii) does not apply to bonus & rights shares offered

Sudhir Menon HUF vs. ACIT (ITAT Mumbai)
March 17th, 2014
S. 56(2)(vii) does not apply to bonus & rights shares offered on a proportionate basis even if the offer price is less than the FMV of the shares

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