On the share capital issue, the Tribunal held that the addition of ₹55 lakh towards share capital and premium was unsustainable where the assessee had discharged its initial onus by furnishing complete documentary evidence such as names, addresses, PANs, confirmations, audited accounts and bank statements of the subscribers. Website URL: https://taxguru.in/income-tax/share-capital-addition-fails-subscriber-non-appearance.html

This article forms Part II of a series on capital gains exemption under Section 54 of the Income-tax Act, 1961, and examines the judicial interpretation of the expression “date of transfer” across varied factual situations. The article adopts a question-and-answer format, supported by relevant judicial pronouncements, to address practical issues arising in determining the relevant date for claiming exemption under Section 54. Website URL: https://taxguru.in/income-tax/section-54-capital-gains-tax-exemption-constitutes-date-transfer.html#google_vignette