Share application money
This query is : Resolved
24 September 2013
Sir,
Can we recieve share application money in cash?
Can we recieve share application money in cash?
24 September 2013
Sec 269SS doesn't apply to share application money received in cash,
Share application money can be received in cash...
Share application money can be received in cash...
24 September 2013
In the cited case it is treated as deposit and decided that 269SS will apply.
But in CIT v Rugmini Ram Ragav Spinners P. Ltd. (2008) 304 ITR 417 (Mad), it was held that share application money received in cash is neither a loan nor a deposit for the purpose of section 269SS.
But in CIT v Rugmini Ram Ragav Spinners P. Ltd. (2008) 304 ITR 417 (Mad), it was held that share application money received in cash is neither a loan nor a deposit for the purpose of section 269SS.
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24 September 2013
Thank you Sir,
For the Citation and for the correction....
For the Citation and for the correction....
24 September 2013
Will you please provide me the link for citation which you stated...
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