This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Angel Tax Case: ITAT Mumbai Validates Valuation Report by Certified Valuers
Case Law Details
- Case Name
- PNP Maritime Services Pvt. Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
PNP Maritime Services Pvt. Ltd. Vs DCIT (ITAT Mumbai)
Recent Mumbai Tribunal Ruling Affirms Validity of Valuation Report by Certified Valuers in Angel Tax Cases
In a significant update on the Angel Tax front, the Mumbai Tribunal has pronounced a ruling emphasizing the legitimacy of fair market valuation conducted under Section 56(2)(viib) of the Income-tax Act, 1961 (Angel-tax Provisions). The judgment establishes that shares issued at a premium based on a valuation using the Discounted Cash Flow (DCF) Method by a certified valuer cannot be rejected by tax officers unless vali...
Author Info
