{"id":6050,"date":"2019-07-01T13:02:22","date_gmt":"2019-07-01T13:02:22","guid":{"rendered":"http:\/\/itatonline.org\/digest\/apollo-sugar-clinics-ltd-v-dcit-2019-176-itd-724-hyd-trib-2\/"},"modified":"2019-11-03T06:15:07","modified_gmt":"2019-11-03T06:15:07","slug":"apollo-sugar-clinics-ltd-v-dcit-2019-176-itd-724-hyd-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/apollo-sugar-clinics-ltd-v-dcit-2019-176-itd-724-hyd-trib-2\/","title":{"rendered":"Apollo Sugar Clinics Ltd. v. DCIT (2019) 176 ITD 724 \/ 200 TTJ 875\/ 182 DTR 142  (Hyd.)(Trib.)"},"content":{"rendered":"<p>During year, assessee-company issued shares at premium of Rs. 990 per share. AO added excess share premium collected to income of assessee by invoking provisions of S. 56(2)(viib) of the Act . Tribunal held that the assessee was second level subsidiary of a company in which public was substantially interested hence would not fall under S. 56(2)(viib) of the Act. Accordingly the addition made by AO was not justified. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources \u2013 Excess share premium- second level subsidiary of a company in which public are substantially interested \u2013 Addition cannot be made. [S. 2(18), 2(24), 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":[1],"tags":[],"class_list":["post-6050","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1zA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6050","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=6050"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6050\/revisions"}],"predecessor-version":[{"id":8067,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6050\/revisions\/8067"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}