31 January 2011
Dear sir, whether shareapplication money received by a company convered under 269ss/t. If yes. pls. clarify and consequences of taken/ and repayment in cash more than 20000/- .
31 January 2011
Share application money received in cash is neither deposit nor loan with in the meaning of 269SS/ T. Citation :- CIT V Rugmini Ram Raghav Spinners (P) Ltd (2008) 220 CTR (Mad) 520.
However, Delhi and Jaipur bench of the tribunal took a just opposite view.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
01 February 2011
Mr. B. Chacrapani Warrier sir, sir, also payment in excess of Rs. 20000/- not attract sec. 269T. PLS.
CAclubindia
