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Case Law Details

Case Name : Brio Bliss Life Science P Ltd. Vs ITO (ITAT Chennai)
Related Assessment Year : 2015-16
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Brio Bliss Life Science P Ltd. Vs ITO (ITAT Chennai)

ITAT Chennai held that AO is free to examine the method through which the share price is determined. However, AO doesn’t have power to change the method from discounted cash flow (DCF) as followed by assessee to Net Asset Value (NAV).

Facts- AO noticed that during the year under consideration the assessee company has received share premium of Rs. 1.75 crores and Rs. 2.05 crores from M/s. Fulcrum Venture India Trust for allotment of equity shares w

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