Held that the assessee issued equity shares of face value of Rs.10 at Rs.50 per share while the fair market value of the shares as per R.11 UA(a) was 50.39 per share. Addition made the Assessing Officer is deleted. (AY. 2011-12, to 2013-14)
Dy.CIT v. Devi Iron & Power (P) Ltd (2023) 224 TTJ 59 (Raipur)(Trib)
S. 56 : Income from other sources-Shares at premium-FMV-Addition is deleted. [ S. 56(2)(viib), R.11UA]