shares or debentures of the company; or
(d) in providing for the premium payable on the redemption of any
redeemable preference shares ... zero. When the E.P.S. was
zero the company's share with a face value of Rs.10/- was commanding
Shri Ram Tradevin (P) Ltd., Kolkata vs Assessee on 10 March, 2015
ITA No. 1086
book value of
shares after considering the liabilities and in that case the book value
of such shares would have been zero ... book value of
such shares after considering the liabilities and in that case the book value of such
shares would have been zero / negative
PENNY SHARE"
The shares in which the assessee has claimed to have made a deal, are identified as
Penny Shares by the investigation wing ... these
shares are not based on business results of the companies but same are fluctuated by
insider's trading from zero value (negligible price
fact shows that the assessee is not regular investor in shares. The shares
were purchased on one single day of 17.02.2014 and were sold ... these shares are not based
on business results of the companies but some are fluctuated by insider's trading
from zero value (negligible price
assessee, we are in agreement as regards
to transfer of shares it was transfer simplicitor within the meaning of section ... were transferred for specific value of
Rs.64.20 cr. and consideration was paid only the form of share and zero coupon non
convertible debentures
Caplin Agencies Pvt. Ltd, Kolkata vs Pcit-4, , Kolkata on 22 December, 2021
1
ITA
Amritrashi Infra(P) Ltd., Kolkata vs Pr.C.I.T.-4, Kolkata on 12 August
investment made in shares & securities
as own fund was used for the same. Out of the total investments in
shares ... Rule 8D (2) (iii) @ 0.5% average of the value of the investment would
also be zero.
In addition to this, ld AR for the assesse
share. No doubt a non-est company or a zero
balance sheet company asking for Rs. 190/- per share defies all commercial
prudence ... been provided that
any consideration for issue of shares, that exceeds the fair value of such shares the
aggregate consideration received for such shares
