When does Sec. 56(2)(viib) apply (when the share application money is received, or when they are allotted)? Who has the burden of proof?
February 23 2023
This video (episode 5 in the 9-episode series) discusses two important issues under Sec. 56(2)(viib) of the Income Tax Act.
Further video discussion on issues under Sec. 56(2)(viib) of the Act:
Episode 1 (E1.) Sec. 56(2)(viib): Issues and Controversies (open access video).
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E2. How should Sec. 56(2)(viib) be interpreted?
E3. Could Sec. 56(2)(viib) of the Act apply in respect of shares issued as consideration for purchase of assets?
E4. Can the tax authorities reject valuation report?
E6. Can Sec. 56(2)(viib) of the Act apply in case of amalgamation of companies?
E7. Sec. 56(2)(viib) and the discounted cashflow (DCF) method.
E8. Can Sec. 56(2)(viib) apply with respect to convertible debentures?
E9. Can Sec. 56(2)(viib) apply with respect to shares issued as result of family arrangement?
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