Tribunal admitted the additional grounds, that the additional documents including the consolidated Circular No. 22 dated August 30, 2019 (2019) 417 ITR 2 (St), of the Central Board of Direct Taxes in respect of exemption from section 56(2)(viib) of the Act, 1961 for start-up companies recognized by the Department for Promotion of Industry and Internal Trade, were not placed before or considered by the Assessing Officer and the Commissioner (Appeals). Hence the additional grounds raised by the assessee were to be admitted and the issue was to be remanded to the Commissioner (Appeals) to be considered in the light of the circular and other documents filed by the assessee. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 56 : Income from other sources-Appellate Tribunal-Additional grounds-Shares in excess of fair market value of shares-Start-Up Companies-Consolidated circular of Central Board of Direct Taxes dealing with assessment of Start-Up Companies-Matter remanded to CIT(A). [S. 56(2)(viib), 254(1)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17984","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4G4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=17984"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17984\/revisions"}],"predecessor-version":[{"id":17985,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17984\/revisions\/17985"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}