provision is applicable to
a transaction of issuance of shares to resident shareholders. However, the
shares were issued to M/s Otter ... applicable to aforesaid issue of shares by the assessee to non-
resident, the invocation of provision of section 56(2) (viib
around 06.06.2018, was on reduction of face
value of shares received 67,23,710 shares of INR 10 each on
or around 14.08.2018. Thus ... invocation/enforcement of such
guarantee or security provided, as the case
may be (including the invocation of pledge
over shares of Electrosteel Castings Limited
others from dealing in the pledged shares and from giving effect to the
invocation of pledge. Notably, the invocation took place on 24th of
August ... affairs of the Falcon Tyres Ltd., through acquiring its shares by
such wrongful illegal invocation and to acquire more such stocks
from the Complainant
invocation, ownership remains with the pledgor. Therefore, holding pledged
shares cannot amount to management or policy control.
33. Ld. Counsel further submits that acceptance ... later assigned to
EARCL. The pledged shares were never invoked. Until invocation of a pledge,
ownership and voting rights remain with the pledgor. A pledgee
Department only when the data
from Income Tax Authorities was shared, which justifies the invocation
of the extended limitation period of five years under ... which came to the knowledge of the Department only after data
shared by Income Tax Department, justifies penalties, as supported by
judicial precedents like Madras
principal-to-principal basis and are
in the nature of sharing of revenue, therefore there is no service
being provided from one party to another ... upon by the
appellant regarding the revenue-sharing arrangement clearly
held that if there is a revenue-sharing arrangement on
principal-to-principal basis
concerned. In the absence of
prima facie material indicating a shared common intention,
the invocation of Section 3(5) of the Bharatiya Nyaya
Sanhita against
presented your case before the
MSME committee on 11.11.2025 and letter
duly shared to you however in light of the
specific allegation put forward ... business whereas the plan customer shared
is contingent and business is not running
and there is no concrete plan shared.
Category of Resolution: Recovery
been held that Section 56(2)(viib)
cannot be applied to shares issued to the existing promoter group for
genuine commercial considerations.
(i) Rugby Regency ... given facts, the invocation of
section 56(2)(viib) of the Act in relation to issuance of shares to
existing promoters was against the legislative
interest-free
funds in the form of share capital and reserves and surplus, therefore, the
interest-free funds available with the assessee company are much ... further submits that Ld. CIT (A)
rightly allowed the loss on share trading of Rs.4,29,05,496/- by treating it as
trading loss
