Share Capital & Premium: When is Money Credited?

When are sums of money credited as Share Capital/Premium?

Quick Summary

This Income Tax Appellate Tribunal ruling clarifies that sums received by a company are not automatically treated as share capital or premium. The assessee failed to provide sufficient documentary evidence to prove the nature of the funds, leading the tribunal to uphold the Assessing Officer's decision. The ruling referenced a Supreme Court judgement, emphasizing the need for proper substantiation of such transactions.

Court :
ITAT Hyderabad

Brief :
This appeal filed by the assessee is directed against CIT(A) – 1, Hyderabad’s order dated 25/03/2019 for AY 2012-13 involving proceedings u/s 143(3) rws 147 of the Income Tax Act, 1961.

Citation :
ITA No. 863/H/2019

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Judgements Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

Attached File : 1442821_4334_1630394852_863_h_2019_avatar_metals_pvt_ltd.pdf

downloaded 383 times

132 Views Comment Share Income Tax Report

Judgement posted by

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

View Judgements

Comments