Live Help
Get News Alerts from on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session

No angel tax if assessee is step-down subsidiary of a Public Co. listed in stock Exchange: ITAT

June 5, 2019[2019] 105 254 (Hyderabad - Trib.)/[2019] 176 ITD 724 (Hyderabad - Trib.)

IT: Where Assessing Officer made additions to income of assessee-company by invoking provisions of section 56(2)(viib) in respect of excess share premium received by it, since assessee was second level subsidiary of a company in which public was substantially interested, assessee's case would not fall under section 56(2)(viib), thus, impugned addition made by Assessing Officer was unjustified

IT: Difference between value of actual investment and value as on balance sheet is not dividend income and, hence, section 14A could not be invoked
Best view in 1140 x 768