Very important clarification dated 31.12.2018 from CBDT : Section 56(2)(viia) not applicable to fresh issue of shares by a company in which public are not substantially interested. It is applicable only in case of transfer of shares.
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P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
02 January 2019Very important clarification dated 31.12.2018 from CBDT : Section 56(2)(viia) not applicable to fresh issue of shares by a company in which public are not substantially interested. It is applicable only in case of transfer of shares.
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