Income Benefit
This query is : Resolved
CA Namrata Shetty
(Querist)
14 January 2009
Please suggest some caselaws in relation to Income benefit u/s.28(iv)in favour of assessee.
Matter is:
Instead of taking the actual sale value A.O. took intrinsic value of unquoted shares as sale value and the difference between intrinsic value and par value was considered as income benefit u/s.28(iv) and disallowed.
Matter is:
Instead of taking the actual sale value A.O. took intrinsic value of unquoted shares as sale value and the difference between intrinsic value and par value was considered as income benefit u/s.28(iv) and disallowed.
CA.Tarun Maheshwari
(Expert)
14 January 2009
Its really a good question. I would also like to be updated in this matter. Dear Namrata, please mail me any clarification recieved by you even from any other source on this matter. my id is tarun2507@gmail.com. Its a humble request to you.
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