shares issued by closesly held companies
FMV 330
Face value 300
issue price 310
will section 56(2)(x) be attracted in this case since shares are issued at inadequate consideration?
yes 56(2)(x) will be attaracted in the hand of recipient as shares are received at lower than fmv
also at the time of issue of shares by the company 56(2)(viib) will attaracted in the hand of company if the consideration received is more than FMV
CAclubindia
