Answers On Topic: sale of shares
Assessee is a private limited company engaged in the business of construction. In the FY 2012-13, assessee company has issued 3,00,000 shares of Rs. 10/- each to various parties at a premium of Rs. 90/- per share and accordingly collected Rs. 30,00,000/- for share capital and Rs. 2,70,00,000/- on account of share premium. During the course of assessment proceedings, AO asked the details about issue of these shares to various companies at a premium and justify the genuineness of the transaction. The assessee company could not produce the evidence in support of the same. Therefore, the AO made the addition…
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Assessee is pvt limited co . One of the share holder is interested in purchase of shares of another share holder. Whether he can purchase the shares at the face value? Or at the price ignoring the market vlaue of rights in immovable property? Whether valuation report as per Rule. 11UA is mandatory? Whether liability which may require for the claim on the rights in immovable property can be consider while working of value of share can be consider even if not recorded in books of accounts ? pl guide .
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During FY. 10-11 Assessee purchased certain shares through banking channels . The shares were transferred in the D-mat account and the same were reflected in the Balance sheet as on 31.03.11. Case for the issue was reopened u/s 148 notice dated 31.03.18 . On the basis of information of DDIT (Inv.). The assessee objected to 148 and also furnished the details as regards the source of investment and after considering the details furnished the AO was satisfied and the assessment was completed on returned income u/s 143(3)/147. The above referred shares were sold during F.Y. 14-15 (A.Y. 15-16) through stock…
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