self assessment tax was not paid, only TDS was claimed.
The total share capital of the company was of Rs. 9,70,000/- only ... sufficient worth to purchase the shares of
crores of rupees when the market value of the shares was zero due to
the negative net worth
Transferor
Company No.2, (3) Nil ( Zero) equity shares of the Transferee
Company of the face value of Rs.10/- each credited as fully paid ... Transferor Company No.3, (4) Nil (Zero) equity shares of the
Transferee Company of the face value of Rs.10/- each credited as
fully paid
year, the assessee-company sold the
shares of following companies:
Qty Cost Indexed Sale value Loss/profit
value
a) Metropolitan ... except the accumulated business loss. Thus, the breakup value of
company's share was zero. Mr. Ajit Kumar Karsandas Hamlai being
director
entitled for the unencumbered ownership
of share certificate arising out of split
and bonus shares?
5. What order or decree?
5. The Special power ... zero interest fully
convertible debenture issue o the face value of rs.360/-
and accordingly, he has paid Rs.18,000/- and 50
debenture share
market value ot shares
acquired during the year is evident from the following table :-
"Sl. Name of the company. Shares Cost Market value ... Zero FCD RRB 31250 3,12,5000 3,12,5000
TOTAL : 8,88,28,869 4,18,60,805
Market value of shares was taken
market value ot shares
acquired during the year is evident from the following table :-
"Sl. Name of the company. Shares Cost Market value ... Zero FCD RRB 31250 3,12,5000 3,12,5000
TOTAL : 8,88,28,869 4,18,60,805
Market value of shares was taken
The Commissioner Of Income Tax vs M/S. Essorpe Holdings Pvt. Ltd on 18 April
share. No doubt a non-est company or a zero balance sheet
company asking for Rs. I90/- per share defies all commercial
prudence ... collected share
premium on allotment of shares of face value of RS. 10 each at a
premium of Rs. 490 per share - It had credited
Acquisition of such intangible assets which are whole or part of acquisition
value, therefore, correspondingly comparable to a license to carry out the
existing transmission ... favour of the assessee.
(vii) Hon'ble SC in Techno Shares and Stocks Ltd. held that intangible assets
owned by the assessee and used
applicable because:
7
ITA No. 19/Del./2010
(i) Purchase of shares is by the assessee company and not by
any director or shareholder ... face value of Rs. 10/
as against the actual price bargained and paid at Rs. 0.10 per share.
The value of a share of SUPL
