support of the contention that it
has received genuine share capital/share premium. The documents
were details of share application money with confirmation from ... shares @ Rs.25/- per share on 2nd August, 2016 to
various investors and existing share holders as follows :
Name of the Shareholder No. of shares
addition of Rs. 84,00,000/- on account of bogus Share
capital & Share Premium received by the company ignoring the fact that the
assessee ... Which was already holding 50,000
shares. Therefore, it is clear that this share capital and share premium is Assessee
Company's own unaccounted
share application money of Rs. 14,00,000/-, as per the following chart:-
Name of the No. of shares Share Share premium Total amount
parties ... assessee issued the shares
at Rs. 70 per share i.e Rs. Face value of Rs. 10 per share + Share
premium
Furnish the
Following -
"In case of fresh share application money/share capital/share premium
received during the year, please give their names and present ... substantially interested), and the sum so
credited consists of share application Money, share capital, share
premium or any such amount by whatever name called
accommodation entries to the desiring persons in the form
of share application money, share premium, loans, sales/ purchase
transaction entries etc. It was also noted ... Puja Synthetics Pvt. Ltd., Jaipur vs. Pr. CIT (Central), Rajasthan
share and share premium @ Rs 30 per share from seven entities
totaling
substantially interested),
and the sum so credited consists of share application
money, share capital, share premium or any such amount
by whatever name called
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
shares and the total number of shares held by
Mrs. Vani Raghupathy stood at 5000 shares aggregating to
20100 shares.
(v) The Ld.AO invoked ... share was
only Rs.10/- per share which is the face value of the shares, the
benefit of such investment at an unrealistic share premium
unaccounted cash which was
inter-alia routed back as share capital and share premium during
F.Y. 2011-12 & 2012-13. Further ... Directors. He stated that share were
subscribed @ Rs.1500/- per share including the amount of share
premium which was on the basis of mutual decision
