{"id":39357,"date":"2024-02-21T12:25:21","date_gmt":"2024-02-21T06:55:21","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-minda-sm-technocast-p-ltd-2023-295-taxman-517-delhihc\/"},"modified":"2024-04-28T15:00:06","modified_gmt":"2024-04-28T09:30:06","slug":"pcit-v-minda-sm-technocast-p-ltd-2023-295-taxman-517-delhihc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-minda-sm-technocast-p-ltd-2023-295-taxman-517-delhihc\/","title":{"rendered":"PCIT v. Minda SM Technocast (P.) Ltd. (2023) 295 Taxman 517\/ 334 CTR 920 \/ (2024)  460 ITR 7  (Delhi)(HC)"},"content":{"rendered":"<p>Assessee purchased 48 per cent shares of a company from three entities at a price of Rs. 5 per share.\u00a0 Assessing Officer applying formula contained in rule 11UA, valued the shares at Rs. 45.72 per share and made addition of difference amount to assessee&#8217;s income Tribunal deleted the\u00a0 addition on the ground that\u00a0 formula applied by Assessing Officer to arrive value of subject shares was not applicable to assessment year 2014-15.Formula became effective only from 1-4 2018 (AY. 2018 19).\u00a0\u00a0 Order of Tribunal is affirmed. \u00a0(AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources-Valuation of shares-Book value of assets-.Formula adopted by the Assessing Officer is not applicable to the relevant assessment year-Order of Tribunal deleting the addition is affirmed by the High Court. [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-39357","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-aeN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39357","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=39357"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39357\/revisions"}],"predecessor-version":[{"id":41731,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39357\/revisions\/41731"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}