Valencia Nutrition Limited (earlier known as Valencia Nutrition Private Limited), Bangalore Vs. The Deputy Commissioner Of Income Tax, Circle- 7(1)(2), Bangalore


Quick Summary
Valencia Nutrition Limited appealed against the Deputy Commissioner of Income Tax concerning additions made for excess share premium under Section 56(2)(viib) of the Income Tax Act. The appeals relate to assessment years 2015-16 and 2016-17. The Income Tax Appellate Tribunal heard the case, noting that the appeal for the 2015-16 assessment year was filed with a significant delay.

Court :
ITAT Bangalore

Brief :
Both the appeals filed by the assessee are directed against separate orders passed by Ld. CIT(A)-7, Bengaluru and they relate to the assessment years 2015-16 & 2016-17 In both the appeals, the assessee is challenging the decision of Ld. CIT(A) in confirming the addition of excess share premium made u/s 56(2)(viib) of the Act.

Citation :
ITA Nos.473 & 474/Bang/2020

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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