{"id":31172,"date":"2022-12-10T13:01:40","date_gmt":"2022-12-10T07:31:40","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ib-communications-network-p-ltd-v-ito-2022-194-itd-277-bang-trib\/"},"modified":"2022-12-10T13:01:40","modified_gmt":"2022-12-10T07:31:40","slug":"ib-communications-network-p-ltd-v-ito-2022-194-itd-277-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ib-communications-network-p-ltd-v-ito-2022-194-itd-277-bang-trib\/","title":{"rendered":"IB Communications Network (P.) Ltd. v. ITO (2022) 194 ITD 277 (Bang.)(Trib.)"},"content":{"rendered":"<p>Assessee issued\/allotted shares at a premium, however, neither Assessing Officer, nor Commissioner (Appeals) had determined fair market value of shares in accordance with rule 11UA and Assessing Officer had merely taken face value of shares as deemed fair market value and share premium was assessed as income from other sources under section 56(2)(viib) of the Act. Matter\u00a0 referred to Commissioner (Appeals), who shall call for a remand report from Assessing Officer, who shall determine fair market value of shares by following any of prescribed methods. (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources-Allotment of shares at premium-Fair market value of shares-Neither Assessing Officer, nor Commissioner (Appeals) had determined fair market value of shares in accordance with rule 11UA-Matter remanded to the  Commissioner (Appeals) to determine fair market value of shares by following any of prescribed methods. [S. 56(2)(viib), R. 11UA] <\/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-31172","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-86M","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31172","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=31172"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31172\/revisions"}],"predecessor-version":[{"id":31173,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31172\/revisions\/31173"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=31172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=31172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=31172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}