M/s 3FIVE8 Technologies Private Limited , Bangalore vs. The Deputy Commissioner of Income Tax Circle-7(1)(1), Bangalore

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Last updated: 06 November 2020
Quick Summary
The Income Tax Appellate Tribunal has condoned a 37-day delay in filing an appeal by M/s 3FIVE8 Technologies Private Limited. The delay was due to a mistaken belief regarding exemptions for 'start-up' companies concerning Section 56(2)(viib) of the Income Tax Act. The appeal, now admitted, contests an addition of Rs.74,68,746 made by the AO for excess share premium collected by the company.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 17-12-2018 passed by Ld CIT(A)-7, Bengaluru and it relates to the assessment year 2015-16.

Citation :
ITA No.630/Bang/2019

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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)

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