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 ... share application i.e. capital receipt, therefore the same
cannot be treated as income of the assessee. Further for treating the
share capital/share premium
genuineness, purpose or justification for charging premium of
shares, share premium by its very nature is a capital receipts and is not
income ... 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
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 ... share application i.e. capital receipt, therefore the same
cannot be treated as income of the assessee. Further for treating the
share capital/share premium
creditworthiness of the entities that
had subscribed to the Share Capital and Share Premium and to
establish the genuineness of the transactions. The appellant ... Capital Receipt? As a
matter of principle, Share Premium like Share Capital is a Capital
Receipt. Since Share Premium is a Capital Receipt, the same
form of share premium attached to the share
capital. As discussion above the premium of Rs.490/- per share was
not justified ... Jaipur vs ACIT, Central Circle-2, Jaipur
receipt of share premium/ share capital to the tune of Rs. 2,00,00,000/-
is held
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 ... share application i.e. capital receipt, therefore the same
cannot be treated as income of the assessee. Further for treating the
share capital/share premium
when share premium was not chargeable to
tax during the relevant assessment year. I find that indeed Share
Premium is a capital receipt ... supra) is an
authority for the proposition that share capital/premium are
capital receipts and cannot be charged to tax. We also fully
endorse
shares of the company. Further, promoters are also
issued shares at premium with the purpose of keeping share capital low,
yet with a stronger capital ... promoters. When shares are
issued at a premium, the number of shares and authorized share capital
increase lesser in comparison to capital raised
subscribers and getting
satisfied with the genuineness of receipt of share capital with premium
without recording statements of the directors either of such companies ... satisfaction of
the AO in respect of receipt of share capital with premium. He argued
that simultaneous with the insertion of the proviso to section
form of share premium attached to the share
capital. As discussion above the premium of Rs.90/- per share was
not justified ... worth in the future. Accordingly, the charging and
receipt of share premium/ share capital to the tune of Rs. 2,00,00,000/-
is held
