Dabur Invest Corp, New Delhi vs Jcit, Range-46, New Delhi on 11 February, 2021
value became negative and as such value of the shares was nil.
That is why shares were sold to the HUF @ Re.1/- per share ... come forward to
purchase these shares which have a zero value. Naturally shares have
been transferred within the family just to create a loss
Dabur Invest Corp, New Delhi vs Prcit-16, New Delhi on 11 March, 2019
1
shown market value of shares to Trent Ltd. at Rs. 500
per share whereas on 7/10/2010 the market value ... appellant submitted that as these were the bonus shares, their
value was 'Zero' and they did not appear in the trial balance. According
shown market value of shares to Trent Ltd. at Rs. 500
per share whereas on 7/10/2010 the market value ... appellant submitted that as these were the bonus shares, their
value was 'Zero' and they did not appear in the trial balance. According
said loan zero coupon was
optionally convertible into share capital at any time not later than
31.03.2011 at a fair value to be determined ... loan was zero coupon and was optionally convertible
into share capital at the option of the lender at a fair value to be determined
issued share capital of ₹ 5 lakhs and no share
premium was charged on the shares. The assessee company issued
and allotted zero percent compulsory convertible ... value of the
shares, which include both equity and preference shares. According to
the Ld. Pr. CIT, the assessee has failed to justify the share
Chintalapati Holdings P.
Ltd., transferred their shares to the assessee on 04.03.2011 at Rs.75.49 per
share whereas, on the same day and also ... fair market value as per the prescribed rule according to
which, the fair market value of the share is less than Re. zero and hence
telecom companies
had allotted shares at a higher rate, the shares sold by
assessee had a higher value per share as a result of licenses ... taxable on the ground that subsequently fair market value of
shares has been reduced to zero. This is a subsequent event
which cannot affect taxability
zero balance company asking
for premium of Rs 490/- per share with a face value of Rs 10/- defies
commercial prudence. Nevertheless it had concluded ... zero balance one. In
these circumstances, there would be all the more reason for not charging
to tax the share premium collected by the appellant