following grounds:
1. Details of Share premium received Rs. 3,55,32,000/- not verified satisfactorily.
2. Investments made by the assessee amounting ... notice, the
PCIT has questioned two issues, i.e. fresh share capital alongwith share
premium raised by the assessee by issue of shares to certain
equity share. Accordingly, the
excess amount charged per equity share is Rs. 13.53.
Total number of equity shares issued at premium ... parties and assessee has also declared the
issue of rights shares with share premium. He also brought to our
notice that assessee has filed writ
substantially interested),
and the sum so credited consists of share application
money, share capital, share premium or any such amount
by whatever name called
unaccounted
income of Sunteck group, in the form of share capital and share
premium, which is evident from the fact that although, the above
companies ... failed to prove, credit found in the form of share capital and share
premium received from allotment of shares by discharging its onus
cast upon
amount
over and above the face value of the shares, being the share premium, is itself a
capital receipt, any under- recovery of such share ... such
shares, the aggregate consideration received for such shares as exceeds the fair
market value of the shares', then such excess share premium shall
share in
this year itself while new shareholders were allotted 60000 equity shares of
Rs. 10 each at share premium of Rs. 490 per share ... share. Thus , these three new parties inducted 89% out of the total
share capital inclusive of share premium being Rs. 3 crore while the
assessee
permits charging of premium on redemption of Preference shares against
the Share/Securities Premium account also. Assessee argued that it has
opted for providing ... shares are optionally convertible in equity shares so in future the
share cannot be redeemed and cannot be converted into equity shares and
it will
source of the
amounts received as share capita! and share application money.
9. Issue of shares at premium a devise to claim tosses in future ... regards share valuation, the AO has stated that share value was
reported to be Rs.12.50 per share as against which, shares have been
Idea Cellular Ltd, Mumbai vs Dcit 3(2), Mumbai on 12 October, 2022
IN THE
submission on bhelaf of the
revenue that such large amount of share premium
15
ITA No. 6892/MUM/2018 (A.Y: 2012-13)
Shri Mahendra ... raised share capital of ` 90 lakhs during the instant year, which
consists of share capital amount of ` 18 lakhs and share premium
amount
