from investors were against share
application and the same is capital receipt which was adjusted against
share capital and share premium. The money so received ... substantially interested) and the sum so
credited consists of share application money, share capital, share
premium or any such amount by whatever name called
Name No. of Shares Amount Rate per Amount adjusted Rate of Issue Total
No. alloted/ Adjusted share against share premium per price of Consideration
applied ... after knowing their future plans and future earnings. Therefore the share
capital/share premium invested by investor companies was not on the basis of current
made investments in share
capital are shell companies/paper companies and therefore the investment
in form of share capital and share premium ... share application alongwith the original share
application (one application for sample)
(iv) When were the share applications received, and the shares were allotted and
sent
addition of Rs.17.60 crores on
account of unexplained share capital/share premium. The assessee
in the cross-objection challenged the reopening ... raised money
aggregating to Rs.17.60 crores through share capital/share premium
during the assessment year under appeal from various parties which
are Mumbai
observed that the assessee has received share capital
and share premium of Rs.8,80,000/- and Rs.79,20,000/- respectively during ... substantially interested) and the sum so credited consists of share
application money, share capital, share premium or any such amount by whatever
premium price Consideration
alloted/ against share against per of the Received
applied share share share share
during capital premium
the
year
1 Bholenath Traders ... substantially interested) and the sum so
credited consists of share application money, share capital, share
premium or any such amount by whatever name called
premium price Consideration
alloted/ against share against per share of the Received
applied share share share
during capital premium
the year
1 Arcade Dealcom ... substantially interested) and the sum so
credited consists of share application money, share capital, share
premium or any such amount by whatever name called
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
addition of Rs.9,30,00,000/-
being unexplained share capital including share premium
made by Assessing Officer without appreciating the fact that
the identity ... account of unexplained share capital and share
premium received by the appellant company from various companies
made by the Assessing Officer on the ground that
shares. The allotment of
2
ITA No.1008/Del/2017
shares of face value of Rs.10/- per share at a premium ... shares. The allotment of shares of face value of Rs.10/- per share at a
premium of Rs.990/- each was to following sister concerns
